{"id":181882,"date":"2023-10-27T05:36:31","date_gmt":"2023-10-27T00:06:31","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=181882"},"modified":"2023-10-27T05:36:31","modified_gmt":"2023-10-27T00:06:31","slug":"circle-partners-familimart-and-bitogroup-launch-points-to-crypto-conversion-programme-in-taiwan-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/circle-partners-familimart-and-bitogroup-launch-points-to-crypto-conversion-programme-in-taiwan-crypto-news\/","title":{"rendered":"Circle Partners FamiliMart and BitoGroup, Launch Points-to-Crypto Conversion Programme in Taiwan – Crypto News"},"content":{"rendered":"
\n

Circle, the issuer of USDC, has partnered with BitoGroup, a cryptocurrency exchange and FamilyMart, a retail store chain in Taiwan, to introduce a \u201cpoints-to-crypto\u201d service. The service is set to redefine the loyalty points system in the country because it will enable customers of FamilyMart to redeem their loyalty points for USDC and other cryptocurrencies. FamilyMart, Taiwan\u2019s second-largest convenience store chain,\u00a0has a long-running loyalty points programme. Therefore, the partnership syncs with\u00a0Circle\u2019s strategy to increase its foothold in Taiwan and promote mass adoption\u00a0of digital financial services.<\/p>\n

Taiwan\u2019s massive loyalty points market and Circle\u2019s mission<\/h2>\n

Taiwan has one of the highest concentrations of convenience stores, and the loyalty points system has become deeply embedded in the retail economy. According to a\u00a0press release by Circle, market survey data shows that in 2021, about 87% of shoppers participated in the loyalty points system, with\u00a099%\u00a0of them\u00a0regularly redeeming\u00a0points for items. This highlights the significance of loyalty points in Taiwan.<\/p>\n

As a result of the collaboration among the three companies,\u00a0FamilyMart customers\u00a0can now exchange their FamiPoints for digital currency. That means that over 17 million people who\u00a0are already part of FamiPoints\u2019 ecosystem stand to benefit. This is a major milestone for the Taiwanese loyalty points market, and it will promote\u00a0easier access to the digital economy.<\/p>\n

From Circle\u2019s perspective, the\u00a0partnership will not only benefit the loyalty points market but also\u00a0help onboard the masses in Taiwan into the larger\u00a0digital economy and leverage the benefits of\u00a0digital fintech. One of the key benefits of converting FamiPoints into\u00a0USDC\u00a0is that it will stop the loyalty points from losing value\u00a0over time. In addition, since the whole process, does not incur transaction costs, it will likely incentivise\u00a0more people to try out digital currency.<\/p>\n

Circle\u00a0has teamed with BitoGroup to leverage the latter\u2019s foothold in Taiwan to promote\u00a0loyalty points-to-crypto program. BitoGroup, is\u00a0a digital asset exchange with almost 800,000 users, and a\u00a0market leader in Taiwan. It runs several different services, such as BitoPro, a crypto exchange,\u00a0the NFT empowerment platform BELS, and 02 META, the social media platform built for the metaverse.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Circle, the issuer of USDC, has partnered with BitoGroup, a cryptocurrency exchange and FamilyMart, a retail store chain in Taiwan, to introduce a \u201cpoints-to-crypto\u201d service. The service is set to redefine the loyalty points system in the country because it will enable customers of FamilyMart to redeem their loyalty points for USDC and other cryptocurrencies. […]<\/p>\n","protected":false},"author":2,"featured_media":177365,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-181882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/181882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=181882"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/181882\/revisions"}],"predecessor-version":[{"id":181883,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/181882\/revisions\/181883"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/177365"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=181882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=181882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=181882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}