oBike jumps on cryptocurrency hype with oCoins

Singaporean bikesharing operator oBike has partnered with TRON, a blockchain-based decentralised protocol, to introduce its own cryptocurrency named oCoins. The partnership will officially launch in the first quarter of this year.

oCoins will enable oBike users to pay for their rides and top up their oBike wallets. The cryptocurrency can also be used to purchase online content for consumption, as well as applications that are on TRON's platform such as audio content community Peiwo and live-streaming app Uplive. oCoins are generated by users whenever they ride on oBike, and they are able to earn more oCoins by riding longer.

In a statement to Marketing, Tim Phang, GM, oBike Singapore, said oCoins will be available globally. Phang added that the collaboration with TRON is part of oBike's ongoing efforts in engaging customers.

TRON is a protocol which enables each content creator to freely publish, store and own data, thus forming a decentralised online content entertainment ecosystem. It has its own cryptocurrency named TRONIX or TRX for short.

"As a tech company, we are dedicated to bringing better value and benefits to our users through constant innovation and mutually beneficial partnerships. We are confident that the introduction of oCoins, will be an attractive proposition for users to continue riding oBike in more ways than one,” Edward Chen, co-founder and CMO of oBike, said.

“oBike is one of the largest bikesharing economy companies active in 20 countries across Europe, Asia and Australia with 10 million users. We are certain that the TRON ecosystem will appeal to oBike users with its widespread popularity," Justin Sun, TRON's founder and CEO of Peiwo, said.

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