ZA International has unveiled its plan to revolutionise its ZA Coin loyalty programme through tokenisation.
This move seeks to cement ZA International as an early and leading contributor to ongoing efforts to build up Hong Kong as a global virtual asset hub, and to encourage the local development of virtual assets. The Company will embark on an exploratory journey to upgrade its loyalty programme with blockchain, which should lead to new applications of ZA Coin and an enhanced user experience within a secure virtual environment.
Frequent and wide usage of ZA Coin
ZA Coin has nearly 380,000 users at present, with a total redemption amount of close to HKD 500 million since its launch in 2020. About 30,000 users transact daily with ZA Coin, and over the past month, nearly 150,000 users have made such transactions, representing about 40% of ZA Coin’s user base.
ZA Coin has a wide variety of uses within ZA International’s ecosystem. Users can redeem an array of trending electronic gadgets and games, as well as anti-epidemic items including surgical masks and rapid test kits, etc. ZA Coin can also be converted into cash and credited to ZA Bank users for flexible uses.
Dedication to the development of virtual assets in Hong Kong
ZA International has been supporting the development of virtual assets in Hong Kong through different partnerships with global enterprises. The Group will enter into a mutual collaboration agreement with HashKey, a world-leading company in digital asset management and FinTech, to boost the growth of Asia’s virtual asset ecosystem.
ZA International has already formed a partnership with Hong Kong-listed digital asset platform OSL Digital Securities in 2021. The Group also participates in Project Inthanon-LionRock, a joint initiative between the Hong Kong Monetary Authority and the Bank of Thailand to explore the application of Central Bank Digital Currency in cross-border payments and clearing, with a view of facilitating HKD-THB Payment-versus-Payment settlements amongst banks in Hong Kong and Thailand.
Following the Government’s policy statement on the development of virtual assets at Hong Kong FinTech Week, ZA International has set out its tokenisation plan for its loyalty programme to demonstrate its commitment to the Government’s ambition to make Hong Kong an international virtual asset hub.
Strategic vision for tokenisation
Wayne Xu, President of ZA International, said: “We have been a staunch supporter of the development of FinTech and virtual assets in Hong Kong. The tokenisation of ZA Coin marks another key milestone along our journey into the virtual asset space.”
Wayne continued: “We look forward to the more extensive application of ZA Coin after tokenisation, such as payments for goods and services, investments, token redemption through interactions with other ZA Coin users, and even earning ZA Coin to redeem more products and shop offers. While everything is still at the planning stage, we believe that with the official launch of a tokenised ZA Coin, we will be able to attract more users, products and merchants to participate, which should contribute to the flourishing of the entire virtual asset ecosystem.”