Hong Kong-based spending app offers crypto discount to customers

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Hong Kong-based startup Bloom has announced its collaboration with cryptocurrency exchange Okcoin to offer token discounts and introduce a fun retail experience to its customers.

Digital payment in Hong Kong is becoming more and more mainstream 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 mechanism, the spending app has come up with a reward scheme to get discount on spending in terms of cryptocurrency.

Customers now have more options to earn rewards and even get a taste of the crypto space. By partnering with the Visa credit card, it allows customers to convert their spending credits into crypto according to the latest price.

According to the press release, the system now supports more than 10 mainstream cryptocurrencies, including Bitcoin, Ethereum and Dogecoin.

According to the company’s website, the company “aims to provide consumers with personalized spending rewards ranging from cashback to digitized coupons by connecting partner brands and card issuers.”

Eddie Rong, the founding member 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 in addition to an exciting spending experience, allowing members to save cryptocurrencies and make purchases at the same time.

The app offers a Bitcoin bonus worth HK$10 to customers who connect their first Visa credit card to their account or make their first transaction in this program, according to the official website.

The company said its app integrates real-time data through an application programming interface (API) to help its members stay on trend in the cryptocurrency space. Additionally, the app allows withdrawal of cryptocurrencies to designated crypto wallets or conversion to Bloom Coins for in-app redemption of non-fungible tokens (NFTs), e-vouchers and collectibles at fashion, without being charged, and members can choose their preferred way. to keep the rewards free of charge.

The company believes the new platform will “help democratize crypto and lay the foundation for it to play a bigger role in the financial system.”

Meanwhile, their counterpart Okcoin will provide free account opening services to their clients, encouraging them to adopt their crypto trading services.

“The combination of Bloom’s rewards program and an easy-to-use spend product provides new and existing crypto users with an ideal way to interact with digital assets every day, and we’re happy to help make that happen. possible,” Khairi Azmi, Managing Director of Okcoin (Asia) said, adding that the platform would make crypto more mainstream and “regular to become mainstream across the world” in the daily lives of ordinary people.

Crypto adoption is expected to expand to the retail level in the city’s institutional investment market. According to a recent study, Hong Kong is considered the top-tier region or economy in terms of the most crypto-ready level, as the city boasts the highest number of blockchain startups per 100,000 people and the number of ATMs. of cryptocurrency proportional to the population. .

Image source: Bloom


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