VANCOUVER, British Columbia and SINGAPORE, Sept. 25, 2019 /PRNewswire/ -- iBank Digital Asset L.P. ("iBank Digital", "iBank Exchange" or the "Company") and iCashRewards ("iCash") announced today that it is exploring use of the DigitalBits blockchain to tokenize iCashRewards loyalty points.
iCashRewards' recipients will be able to use the iCash loyalty token as a form of payment on iBankEx and iCash Ecosystem, allowing users to benefit from reduced exchange and transaction fees.
"We are excited to be collaborating with the DigitalBits blockchain," stated Min Kuang, Founder of the Digital One Asset Foundation. "Initially we focused on tokenizing the iCashRewards loyalty token on the Ethereum network, however, in addition to the added technical benefits, our vision is also aligned with DigitalBits' focus on supporting brand currencies. This also strategically aligns with iCash being integrated with PundiX to provide fiat to crypto processing services and point-of-sale solutions with merchants."
In addition to Bitcoin, Ethereum and other digital assets on iBankEx, as a new addition to the DigitalBits ecosystem, iCash will be able to interact with other brand currencies that will reside on the DigitalBits network.
"We are excited to see iBank Digital and iCash join the DigitalBits ecosystem," stated Al Burgio, Founder of DigitalBits. "Our vision has been focused on designing DigitalBits as a network layer blockchain for brand currencies, including assets such as loyalty and rewards points, making it perfectly suited for iBank's endeavour into the points economy."
iCashRewards loyalty tokens will be able to leverage protocol characteristics including low latency and dynamic quorum based consensus not currently possible on the Ethereum network.
About iCashRewards - A Trusted Partner in Blockchain Loyalty
The iCashRewards Loyalty Program ("iCash" or "iCashRewards") is supported by a powerful infrastructure for tokenization development and traditional loyalty rewards. It promotes the application and evolution of blockchain loyalty to decentralized finance (DeFi) projects and global tokenized industry. The iCashRewards Loyalty Program is governed by Digital One Asset Foundation, which is an independent, not-for-profit membership organization incorporated in Singapore. www.icashrewards.io
About iBank Digital:
iBank Digital Asset L.P. (iBank Digital), based in Vancouver, Canada, is a leading provider of crypto trading platforms, supported by Huobi Cloud, and lending through the world's first decentralized global network. Connecting financial institutions to high networth individuals, iBank Digital provides convenient, secure, and fast trading interfaces, systems and intuitive and efficient new trading platforms. iBank Digital's services assume a number of different vectors, including: crypto trading, crypto retail solutions, crypto lending, iBank XPass (wallet and payment solutions), advisory services, and facilitating Bitcoin purchases via credit card. For more information, visit www.ibankdigital.io
DigitalBits is a blockchain protocol and network layer designed for consumer digital assets, specifically branded currencies. DigitalBits is focused on supporting innovators with driving enterprise adoption of cryptocurrency and its use in enhancing the consumer experience and corporate social responsibility initiatives. For more information, please visit www.digitalbits.io.
All trademarks referenced in this press release are the property of their respective owners.
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