Taiwan’s BitoGroup and FamilyMart team up with Circle, the organization responsible for the USDC stablecoin, has entered into a strategic partnership circle, the organization responsible for the USDC stablecoin, has entered into a strategic partnership with the Taiwanese cryptocurrency exchange BitoGroup and Taiwan FamilyMart to further its footprint in the market.
Taiwan’s BitoGroup and FamilyMart Team Up with Circle for an Expanded Presence
In a recent statement, Circle unveiled a groundbreaking “points-to-crypto” service in collaboration with its new partners, which enables users to seamlessly convert their FamilyMart loyalty points into popular cryptocurrencies like USDC. Raagulan Pathy, the Vice President of Asia Pacific for Circle, emphasized the significance of this development, stating, “With the introduction of USDC in the enhanced ‘Points-to-Crypto’ service, we aim to empower the Taiwanese community to actively participate in the digital economy and bolster Taiwan’s commitment to embracing digital fintech innovations.“
FamilyMart, a major convenience store chain in Taiwan, has had a well-established loyalty point system in place for a considerable period. According to a survey conducted in 2021 by the Taiwanese think tank Market Intelligence & Consulting Institute, 87% of users engaged in points accumulation, with a remarkable 99% of them frequently redeeming their points for various products. BitoGroup also highlighted its substantial membership base, boasting nearly 800,000 members, capturing an important 90% of the market share in Taiwan. This collaboration can potentially revolutionize how individuals in Taiwan engage with loyalty programs and the digital economy.
In a recent statement, Circle unveiled a groundbreaking “points-to-crypto” service in collaboration with its new partners, which enables users to seamlessly convert their FamilyMart loyalty points into popular cryptocurrencies like USDC. Raagulan Pathy, the Vice President of Asia Pacific for Circle, emphasized the significance of this development, stating, “With the introduction of USDC in the enhanced ‘Points-to-Crypto‘ service, we aim to empower the Taiwanese community to actively participate in the digital economy and bolster Taiwan’s commitment to embracing digital fintech innovations.”
FamilyMart, a major convenience store chain in Taiwan, has had a well-established loyalty point system in place for a considerable period. According to a survey conducted in 2021 by the Taiwanese think tank Market Intelligence & Consulting Institute, a significant 87% of users engaged in points accumulation, with a remarkable 99% of them frequently redeeming their points for various products. BitoGroup also highlighted its substantial membership base, boasting nearly 800,000 members, capturing an actual 90% of the market share in Taiwan. This collaboration can potentially revolutionize how individuals in Taiwan engage with loyalty programs and the digital economy.
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