Trade.io has signed a new partnership, this time with a company called Gabrotech.
Gabrotech promises to “democratise loyalty rewards using blockchain”. According to its whitepaper, the loyalty reward market is worth $500 billion.
It has an “open-loop decentralized ecosystem” called Gabro that lets users manage their loyalty points. The company advertises services such as a digital wallet for storing the points and a pre-paid card which it aims to make usable in 60 million outlets over 200 countries through a partnership with a service provider – according to the whitepaper, “Discussions are underway.”
Its token sale begins on the 31st of July. Its token, GBO, will be used to represent loyalty points, making them liquid. There will be one billion GBO tokens up for sale, at a rate of 1 ETH for 5,000 GBO.
Trade.io said in a statement published in Medium: “We decided to collaborate with Gabrotech as we see a huge potential in an industry that has been crying out for change.”
Gabrotech Chairman Andy P.K. Chen said: “We are ready to take our program to the next level with trade.io’s extensive network, and vast experience in the industry.”
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Trade.io is a Swiss blockchain company that advertises itself as a “next-generation financial institution”. Its goal is to create a decentralised exchange that can handle cryptocurrency, fiat money, and financial derivatives based on commodities such as precious metals, oil, and other financial derivatives.
It completed its initial coin offering on the 4th of January 2018, selling 65.7 million Trade Tokens for $31.1 million, after raising $20 million in a pre-sale in December 2017. It initially hoped to raise $135 million. The token currently has a market capitalisation of $30.6 million according to coinmarketcap.com.
It launched its cryptocurrency exchange in beta mode on the 24th of July. It is currently open to 1,000 pre-selected users to trade Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Trade Token.
The exchange’s next step will be to add fiat to cryptocurrency trading support and offer credit to traders.
Other Trade.io partnerships
In December 2017 the Trade.io signed with a company called Civic Technologies, which uses blockchain technology to authenticate peoples’ identities. The former will use the latter’s service to fulfil know-your-customer requirements. In that same month the firm signed a deal with Bancor which allows it to easily convert Trade Tokens to other tokens using the Bancor Network.
In July 2018 Trade.io signed with ViewFin, a Chinese company which operates a blockchain called Metaverse. Under the terms of the deal, Trade.io will list ViewFin’s token on its exchange and gain access to the Chinese market. Shortly afterwards, it signed with SelfKey, a company which is another blockchain-based identity system. It automatically fills in online forms once it has your details.