Cryptocurrency exchange Binance has announced a partnership with a travel booking platform TravelbyBit to launch a crypto-backed travel rewards card to facilitate crypto payments on major travel websites.
The new card will reportedly function as a traditional prepaid card with additional access to exclusive travel discounts and deals.
"Users can load their travel cards with BTC, BUSD, BNB, and ONT, which can be used to book flights and hotels through popular online travel sites such as Booking.com, Expedia, Agoda, and Ctrip, as well as TravelbyBit.com," the exchange said in the statement.
TravelbyBit Head, Caleb Yeoh, says many businesses that embrace crypto charge users high fees which results as a significant barrier to adoption.
"At TravelbyBit, we want to make crypto useable, provide incentives for early adopters, and see crypto adoption grow. We are excited to work closely with Binance to bring crypto payments to travelers around the globe," Yeoh added.
Previously iHodl reported that Binance acquired the Indian trading platform WazirX in order to offer its services to more than 1 billion users in the country.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.