By signing an MOU with online social shopping platform Gifchu, Xank, the world’s first stable transaction coin, introduces shoppers to cryptocurrencies, bringing us one step closer to widespread adoption. Through this partnership, Xank and Gifchu will combine forces to offer consumers another option for redeeming their loyalty points.
In the way things currently stand, Gifchu’s shoppers redeem their points for a product or receive a discount when they purchase an item on the platform. Through this partnership, Xank and Gifchu will allow users to directly exchange their Gifchu points into Xank the cryptocurrency in addition to the existing method of redeeming points.
With the Xank they receive, people will in the future be able to spend Xank at Gifchu and other partnered stores. They can also hold Xank or trade it for other cryptocurrencies or cash out at a digital assets exchange. Whatever the consumer chooses to do with Xank, we are happy to have our cryptocurrency put into the hands of the average person.
Kim Ryu Hyun, CEO of Xank, said, “The adoption of our cryptocurrency has always been a goal of ours. We are excited to work with Gifchu in taking the first steps to make this happen.”
Gifchu stands to benefit from this partnership by cutting costs on its loyalty points program. As it is commonly known, loyalty programs require companies to provide a tangible good or service when customers choose to redeem their points, resulting in real costs for the company. As Xank steps in to cover a portion of the points redemption, we expect to lower costs for our partners.
All in all, Xank and Gifchu pledge to work together for a better experience for the consumer.
Xank is the world’s first free-floating cryptocurrency with stablecoin functionality. Using Xank’s Stable Pay feature, anyone can send money, purchase goods, and conduct other transactions without worrying about price fluctuations.
Gifchu is an online shopping platform with an emphasis on gift-giving between friends. Gifchu offers a wide range of products, including gift certificates from Starbucks, Basking Robbins, Dunkin Donuts, and more.18