Crypto-coins are Going Mainstream in Australia

Retail outlets in the Brisbane Airport in Australia will soon start accepting cryptocurrencies as a medium of exchange from travelers. This was subtly announced last week after the airport struck a deal with a Brisbane-based start-up called TravelbyBit.

TravelbyBit recently received a capital injection of $88,070 from Advance Queensland’s ‘ignite’ commercialization assistance fund. The start-up makes it possible for merchants and shopping outlets to receive payments in Bitcoin, Ethereum, Litecoin, Dash and Steem.

Brisbane airport made it known that it is currently working with TravelbyBit to bring decentralized blockchain-enabled transactions to merchants and shops that operate within the airport.

So far, more than ten merchants have signed on to receive payments in cryptocurrencies including restaurants, souvenir shops, cafes, newsagents and as well as other business outlets.

Roel Hellemons who is the corporation’s general manager for strategic planning and development has said that “it is just the beginning for us as we hope to expand the digital currency option across business.”

He adds that “We are also proud to be the first airport in the world to achieve this in partnership with a small local start-up business such as TravelbyBit, whose pioneering thinking is drawing attention to Brisbane as a serious breeding ground for innovative thinking”

With over 26 merchants already signed on to TravelbyBIt, the prospects only look brighter. The company aims to expand from its core customer base in Brisbane’s Fortitude Valley to other parts of Australia and even across borders.

TravelbyBIt CEO Caleb Yeoh in a Medium post last September said that his company will be looking to sign up merchants on Bitcoin tourist routes which the company is developing. The company’s ‘Bitcoin tourist route’ helps to map out places where travelers can pay for services and experiences using Bitcoin, Litecoin and other cryptocurrencies. ‘We can build new Bitcoin routes across the whole of Queensland and then Australia” he said.