On Thursday, Loylogic Inc., an e-commerce and e-payment solutions for loyalty programs, and Coinify ApS, a blockchain payment service provider, announced they have formed a strategic and innovative global partnership for a new loyalty currency conversion.
According to the duo, the new feature continues to offer millions of loyalty program members with unparalleled flexibility by providing Bitcoin as a redemption option, can now be found on Loylogic’s industry leading Reward Experience Platform.
“Converting loyalty points or miles into Bitcoin continues to support Loylogic’s vision that providing choice to loyalty program members is the key driver for loyalty program success. With this new partnership, Loylogic and Coinify become the first ones to offer cryptocurrency as a redemption option.”
Rikke Stær, Chief Commercial Officer at Coinify stated:
“We view loyalty points as a powerful form of currency, and combined with the growing interest in Bitcoin and other blockchain currencies, we are happy to be chosen by Loylogic to offer this digital asset as a redemption option for their loyalty member base. Enabling Loylogic’s members to exchange their loyalty points and miles for Bitcoin is presumably one of the most convenient ways to get hold of Bitcoin, and considering Loylogic’s impressive access to millions of loyalty members globally, this collaboration has potential to play a significant role in onboarding new users to the new and emerging blockchain economy.”
Dominic Hofer, CEO and Founder of Loylogic, then added:
“At Loylogic we have a profound desire to provide innovative redemption ideas to our clients and work with them on constantly growing member engagement. Be it new reward categories, redemption processes, shop features or campaigns, choice is our overarching principle and Bitcoin conversion our latest child. We are thrilled to partner with Coinify a leading blockchain payment service provider, and be able to bring loyalty program members worldwide the opportunity to redeem their hard-earned miles and points into bitcoins.”
Exchanging miles/points into Bitcoin is now available on Loylogic’s Reward Experience platform.