Popular Crypto Travel Company Gets Boost from Queensland Government

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Popular Crypto Travel Company Gets Boost from Queensland Government

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Australian crypto travel company TravelbyBit has just been awarded a grant from the Queensland state government of AUD 100,000.

The company has a hand in numerous projects throughout Australia’s travel and tourism industry as becoming well known across the nation for the supportive role it has taken in promoting using digital currency for travel.

TravelbyBit CEO Caleb Yeoh said it was early days for crypto, and that there was strong support for it as a “social movement”. The company currently supports many new crypto enterprises in the hospitality industry including the new crypto project with Queensland’s International Airport retailers, which is off to a slow start with just a handful of transactions in the airport each day so far, worth between USD 5 and USD 55.

No project is too small for the company as it designs tourist routes within Australia and offers selected providers with their own TravelbyBit digital currency payment platform. The company allows customers to pay in a digital currency of their choice.

Queensland Innovation minister Kate Jones commented on the importance of Australia’s tourism industry both at State and Federal levels:

“Tourism is one of Queensland’s most important industries… TravelbyBit has devised a clever way to make it easier for visitors to our state to pay for their purchases with a growing number of local businesses accepting cryptocurrency payments.”

The crypto travel specialist is one of 70 companies that are to receive the state government s grant of AUS 8.3 million and hopes that the funds that TravelbyBit receive will help them to scale up its current operations.

Yeoh says that now 150 merchants across the country have tapped into Bitcoin payments through his company and says he is now targeting a different type of traveler:

“With this next phase of technology, we are targeting a different brand of tourist – the tech-savvy travellers from anywhere in the world who are looking to book their travel experiences ahead of their trip and use digital currency to pay for their travels.”

TravelbyBit currently accepts BTC, ETH, XEM and plans to accept BNB in the future.

 

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