According to a recent announcement, Binance has added a new section to its marketplace just for customers looking to spend their cryptocurrencies while traveling. This section compiles all of the binance market’s standalone travel applications into one convenient location.
Binance eyeing the tourism sector?
The announcement names a few of the popular mini-apps that users will have access to, including Travala, a platform that lets users book hotels, flights, tours, and activities using crypto. Splyt, an app that lets users hail rides within and across borders. And Mobile E-sim, a crypto app that lets users top up their mobile phones.
Besides accessing the traveling crypto apps, users would also be able to use the marketplace to access a variety of brands that accept cryptocurrency payments. Furthermore, Binance adds that it would also host periodic giveaways as a way to incentivize its users.
The development follows Binance’s partnership with Crypto Air Ticket in October, allowing users to pay for flight tickets using BNB. While this was already possible with Travala, the new partnership indicates that the exchange is trying to penetrate the crypto tourism sector.
Binance continues to expand
And it is not only tourism; according to a recent Bloomberg report, Binance is also examining the benefits and pitfalls of acquiring banking institutions while traditional finance becomes increasingly intertwined with the digital assets market.
As stated by Binance CEO Changpeng Zhao, the company aims to “bridge the gap” between digital assets and traditional finance. Zhao made his comments during a crypto conference in Portugal, stating:
There are people who hold certain types of local licenses, traditional banking, payment-service providers, even banks. We’re looking at those things. We want to be the bridge between crypto and the traditional financial world.
Binance had previously stated that it had around $1 billion set aside for acquisitions. After the bear market for cryptocurrencies emerged in May, Zhao stated that Binance’s primary focus was on acquiring struggling cryptocurrency lending businesses.
