RATE Group | Korean Luxury Retail Clients to Manage Reward Points on Blockchain
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Korean Luxury Retail Clients to Manage Reward Points on Blockchain

11 May Korean Luxury Retail Clients to Manage Reward Points on Blockchain

Posted at 14:50h in Cryptocurrency News by

Blockchain rewards platform MiL.k has teamed up with Seoul-based luxury retail space chain Shinsegae Duty Free to provide loyalty points compatibility and management. 

The new partnership allows Shinsegae customers to connect their existing rewards accounts to the MiL.k mobile app, according to a press release shared with Cointelegraph on May 11. 

Adoption for “millions” of clients?

Once users interlink the accounts, they can reportedly trade their Shinsegae loyalty points for the in-house cryptocurrency called MLK, which currently trades at $0,19 per token. MLK in turn, can be exchanged for reward points of other partnering vendors, like Yanolja, a Korean travel accommodation platform. 

Such partnerships allow MiL.K to increase the utility of loyalty points across the leisure, life-style, and travel sector, making it a more effective endeavor, the press release stipulated.

Jayden Jo, CEO of MiL.k, believes that adding Shinsegae Duty Free to his company’s network will also…

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