Klevo Rewards (ASX:KLV) has this week added to its recent acquisition of an Australian company with a credit licence to pick up two more Australian entities, each with a finance licence, as Klevo works towards setting itself up as a one-stop-shop financial services heavyweight down under.
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Klevo, a company with a traditional focus on rewards point programs evident in its name, is eyeing a move into lending, and expanding the accessibility and functionality of its “Fly Wallet” product – also the name of a Klevo subsidiary.
The company offers “crypto-friendly” cards to customers who can then use those to access Klevo’s rewards ecosystem.
This week, Fly Wallet has teamed up with Australia-based ByBit Technology Limited to ink a broker agreement that sees ByBit capable of providing Fly Wallet access to cryptocurrency payment infrastructure.
In a sentence: Klevo Rewards has its eyes on the crypto space, and ByBits existing AFSL awards Klevo’s shareholders certainty that the company is satisfying Australian compliance standards.
“Fly Wallet is evolving traditional rewards ecosystems with fragmented earning and redemption capabilities to a seamless rewards, payments and transactions platform supported by robust, regulated financial technology,” KLV CEO Alexander Gold said.
“The Bybit agreement gives us a pathway to digital asset rewards and transaction capability. The proposed acquisitions of ASFIN, Point Capital and Just Ask Solar are intended to support the regulatory framework around custody, stablecoin, financial services and credit capability.
“Together, these initiatives support our vision to help eligible users access digital asset liquidity, complete more everyday transactions, participate in rewards and loyalty offers, and reduce missed transaction opportunities through appropriately structured financial products.”
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Disclaimer: This content has been prepared as part of a partnership with Klevo Rewards Ltd and is intended for informational purposes only.
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