Metaps Plus and OST Announce Partnership to Tokenize $140M+ Mobile Coupons Market
- Blockchain , Payments
- 25.10.2018 08:28 am
Metaps Plus, a leading Korean fintech company and a subsidiary of Tokyo-listed Metaps Group (TSE:6172), has entered into a strategic partnership with OST to develop Blockchain-powered coupons and mobile payments by leveraging OST technology and the OpenST and OpenST Mosaic Protocols.
Founded in 2009, Metaps Plus operates a Marketing platform for mobile apps, servicing 300,000 daily active users and achieving 100 million app downloads every year. It also operates Korea’s largest mobile coupon platform and partners with 34,000 merchants, processing USD $140 million of coupon transactions in 2017.
The collaboration with OST will initially focus on tokenizing mobile coupons. Although mobile apps have made coupons much more convenient and user-friendly, end-customers still face many traditional limitations. For example, a coupon typically has an expiration date, can only be used at specific stores/locations, and may require minimum purchase thresholds. This limits their value and adoption, frustrating both consumers and businesses.
Blockchain tokens can solve many of these issues as they are tradable and have inherent market value, bringing more flexibility to users. To mirror the large variety of coupons that Metaps Plus currently processes, this partnership will tap into key areas of Blockchain development such as Non-Fungible-Tokens (“NFT”), which are designed to represent unique digital assets.
“Metaps Plus is leading the charge in bringing Blockchain technology to mass consumers in Korea. Working with OST will help Metaps Plus create Mobile Coupons 2.0 and pave a whole new way for users to adopt, use and even trade coupons.” says Seungyeon Kim, CEO, Metaps Plus.