Xank (CEO Kim Ryu Hyun) and Smart Olive (CEO Park Hyun-sook) announced on the 20th that they signed a blockchain business agreement on November 13th.
As an electronic food stamp platform company, Smart Olive opened its service in 2016 and now has strengths in the corporate sector, educational institutions, and cafeteria services by differentiating IT services.
As a free-floating cryptocurrency, Xank recently developed a cryptocurrency cashback wallet with an optional Stable Pay functionality and successfully launched the service in August. Xank’s wallet provides shoppers with Bitcoin and Xank as cashback rewards, and the portfolio tracking feature allows users to check the performance of Bitcoin and Xank received as cashback.
Through this business agreement, Smart Olive and Xank have agreed to 1. Automatic conversion of Olive Points of XANK Coin (conversion based on the point of use), 2. Use as cash in meals, shopping malls, cafes, franchises, and affiliated services provided by Smart Olive with the Xank wallet, 3. The exposure and joint marketing of Xank to Olive customers, and 4. The exposure and joint marketing of Olive to Xank customers will be actively conducted.
Mr. Kim Ryu Hyun, CEO of Xank, said, “Through this partnership with Smart Olive, we expect to be able to pay with Xank at 1,500 stores nationwide in South Korea. This is a list of stores that currently accept Olive Point payments. We hope to grow with Smart Olive in the future.”