Klevo Partners with Bybit to launch KLVAUD stablecoin

Klevo Rewards (ASX:KLV) announced a landmark global expansion strategy through a partnership with the digital asset platform, Bybit.

The collaboration, spearheaded by Klevo's subsidiary Fly Wallet Pty Ltd, aims to bridge the gap between traditional finance and digital assets with the launch of KLV Coin (KLVAUD).

Unlike volatile cryptocurrencies, KLVAUD is an Australian dollar-backed stablecoin, meticulously pegged 1:1 to the AUD, designed to function as both a reliable store of value and a versatile rewards instrument within a sophisticated new payments ecosystem.

The partnership introduces a "spend-and-earn" model that integrates seamlessly into everyday consumer behaviour.

Users can acquire KLVAUD through direct purchase on Bybit’s platform or earn it as cashback when transacting with participating merchants using a co-branded Klevo/Bybit Mastercard.

Key features of this ecosystem include merchant-funded incentives and loyalty-based programs that convert routine spending into digital assets.

Perhaps the most significant disruption to the traditional loyalty market is the flexibility of the reward itself.

While conventional points are often trapped within restricted "walled garden" catalogues, KLVAUD can be utilised anywhere Mastercard is accepted globally.

At the time of reporting, Klevo Rewards' share price was $0.029.