October 22, 2018. On its October 19, 2018 weekly update, LoyalCoin announced its upcoming plans on the LoyalWallet. Additionally, two merchants are also coming on board and a new student body has signed up with the team.
On August 2018, LoyalCoin initially announced a major update on its LoyalWallet. It includes direct cash in and cash out capabilities. The team’s Chief Technology Officer, Mr. Ahmad Alkabra, gave an update on the status of the company’s wallet.
Mr. Alkabra shared that his team is currently beefing up the wallet’s security and compliance in line with LoyalCoin’s licensing applications. He also added that the wallet will continue to support new merchants soon and hinted that Cebu Pacific’s Get Go rewards will be added by the second week of November. Deposits and withdrawals along with the send and receive functions are also on the way by December.
Student organizations in different colleges and universities are joining the team’s growing list. University of the Philippines Manila Junior Marketing Association (UPMJMA) initialized the partnership with the team. It was followed by San Beda Junior Marketing Association (JMA). Now, a third student organization has just signed up, Far Eastern University – Diliman Junior Marketing Association.
Two new merchants are now included in the LoyalCoin team’s merchant roster. These merchants can now offer Loyalists a new place to earn and redeem LYL.
Purple Thyme Bistro is a food and coffee shop located in Lucena City, Quezon that offers pizza, pasta, coffee, and drinks. Manila Wings Kapitolyo branch serves American food such as burgers, fries, and chicken wings. No further information was revealed but expect the new merchants to be included in the LoyalWallet app soon.
Last week, LoyalCoin announced its partnership with online shopping store Lazada.
Read more: LoyalCoin Announces Lazada Partnership
As of this writing, aside from earning LYL from participating merchants, users can also buy LYL from five cryptocurrency exchanges NEMChange, Cryptopia, Kryptono, OEX, and South Korea’s Coinis.
LoyalCoin is a loyalty and rewards blockchain company running on the NEM platform. It aims to disrupt the current loyalty and rewards program in the market by unifying different merchants to use the LoyalCoin ecosystem. The LYL earned can be used in different partner merchants, exchanged to a different token, or withdrawn to fiat (using TrueMoney).