Hong Kong’s Bloom partners with Web 3.0 participants to support crypto discounts
Local tech startup Bloom announced that starting today, Bloom members can get spending discounts in the form of cryptocurrency. The move will see the Bloom app become Hong Kong’s first consumer app to support cryptocurrency rebates for any Visa card transaction in Hong Kong, marking a major breakthrough in a consumer landscape dominated by cash rebates and reward points.
Bloom members can log into the Bloom app and convert the Bloom coins they have earned from all spending with a linked Visa card into cryptocurrencies based on the latest prices. The Bloom app currently supports more than 10 mainstream cryptocurrencies, including Bitcoin, Ethereum and Dogecoin, etc., and integrates real-time data via Application Programming Interface (API) to help members stay on trend in the cryptocurrency space. Based on their needs, Bloom members can withdraw cryptocurrencies held in the Bloom app to designated crypto wallets, or hide them in Bloom coins for redemption of non-fungible tokens (NFTs), e-vouchers and fashionable collectibles, etc. Bloom will not charge any fees in either case, allowing members to choose their preferred method of retaining rewards at no cost.
Bloom has partnered with Okcoin, one of the leading global cryptocurrency exchanges, to help Bloom members take their first step into the crypto space with ease. Okcoin will provide free account opening services for Bloom members so they can easily withdraw the crypto they earn. After withdrawing the crypto from Bloom into their Okcoin account, members have the opportunity to continue growing their money with Okcoin’s Earn product, which enables cryptocurrency owners to earn high returns on many different assets.
Eddie Rong, founder of Bloom, said: “We are excited to join forces with Okcoin to create more value for Bloom members. With the growing awareness of cryptocurrencies in Hong Kong, although the cryptocurrency market has been volatile recently, seeking we to build a platform for beginners on top of an exciting consumer experience, which allows members to save cryptocurrencies and trade at the same time.”
Justin Chan, founder of Bloom, added: “We believe this will help democratize cryptocurrencies and lay the groundwork for them to play a more important role in the financial system. As the fifth wave of the pandemic has weighed on the local retail sector, we hope to contribute to economic recovery with this breakthrough Bloom app in collaboration with payment, retail and food and beverage partners.”
“We are proud to partner with Bloom to make crypto a regular part of people’s daily lives,” said Khairi Azmi, General Manager Okcoin (Asia). “For cryptocurrency to become mainstream worldwide, we need payment technology that ordinary people want to use. The combination of Bloom’s rewards program and easy-to-use consumer products provides an ideal path for new and existing crypto users to interact with digital assets every day, and we are excited to help make this possible.”
Bloom’s innovative loyalty and offers program is powered by Visa to distribute instant discounts by identifying eligible transactions and enabling timely reward redemption.
From today until 31 December 2022, Bloom members can get HKD 10 worth of Bitcoins by linking any Visa card to the Bloom app. They can get extra Bitcoins worth HKD 10 by making a transaction of any amount at online or offline merchants.
