The startup enables businesses to accept payments in digital currencies like Bitcoin and its system is currently used by over 150 merchants across Australia. The digital currency payments platform for the travel and tourism industry is one of 70 companies that will receive the grant as part of over USD 8.3 million in Palaszczuk Government innovation funding. The government has recognized the startup’s potential to drive more tourists to Central Queensland.
TravelbyBit was among the latest round of companies to receive Advance Queensland Ignite Ideas funding, which is part of the Palaszczuk Government’s USD 650 million Advance Queensland initiative.
The USD 100,000 from round four Ignite Ideas funding would allow the company to build upon the success it has already achieved in connecting local Queensland merchants to cryptocurrency-spending tourists. The funding will be used to develop a “purpose-built platform that will accept digital currencies from anywhere in the world.”
TravelbyBit currently supports Bitcoin, Litecoin, Dash, Ethereum, XEM, and announced plans to add support for BNB soon.
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