HK-based consumer app offers crypto discount for customers
Hong Kong-based startup, Bloom announced its partnership with cryptocurrency exchange Okcoin offers token discounts and introduces a gamified retail experience to its customers.
Digital payment in Hong Kong is becoming more common in people’s daily lives. To break through the current spending landscape in the city dominated by credit cards and their cash rebates or reward points mechanisms, the spending app has offered a reward scheme to get spending discount in the form of cryptocurrency.
Customers now have more opportunities to get rewards and even get a glimpse of the crypto space. By partnering with Visa credit cards, it allows customers to convert their spending credits into crypto according to the latest price.
According to the press release, the scheme now supports over 10 common cryptocurrencies, including Bitcoin, Ethereum and Dogecoin.
According to the company’s website, the company aims to provide personalized spending rewards from cash rebates to digitized coupons to consumers by connecting partner brands and card issuers.
Eddie Rong, the founder of Bloom, welcomed the partnership with Okcoin and wants more customers to embrace the crypto space, “With the growing awareness of cryptocurrencies in Hong Kong, although the cryptocurrency market has been volatile recently, we seek to build a platform for beginners on top of an exciting consumer experience, which gives members the opportunity to save cryptocurrencies and trade at the same time.”
The app offers a HK$10 Bitcoin bonus for customers who link their first Visa credit card to their account or make their first transaction in this program, according to its official website.
The company said its app integrates real-time data via an application programming interface (API) to help members stay on trend in the cryptocurrency space. Furthermore, the app allows withdrawal of cryptocurrencies to designated crypto wallets or hidden in Bloom Coins for redemption of non-fungible tokens (NFTs), e-vouchers and fashionable collectibles, without being charged, and members can choose their preferred way to keep rewards at no cost .
The company believes the new platform “will help democratize crypto and lay the foundation for them to play a more important role in the financial system.”
Meanwhile, their counterpart Okcoin will offer free account opening services to its customers, encouraging them to adopt crypto trading services.
“The combination of Bloom’s rewards program and user-friendly consumer products provides an ideal opportunity for new and existing crypto users to interact with digital assets every day, and we are excited to help make this possible,” Khairi Azmi, General Manager of Okcoin (Asia ) said, adding that the platform would make crypto more mainstream and “usual to go mainstream all over the world” among ordinary people’s daily lives.
Crypto adoption is expected to expand to the retail level among the institutional investment market in the city. According to a recent study, Hong Kong has been labeled as the top-ranked region or economy in terms of the level of crypto-clarity, as the city has the highest number of blockchain startups per 100,000 people and the number of crypto-ATMs proportional to its population.
Image source: Bloom
