Digital insurer ZA International has unveiled plans to tokenise its ZA Coin loyalty programme to create more applications for the coin within the platform’s ecosystem.
ZA Coin has 380,000 users at present, with a total redemption amount of close to HKD 500 million since its launch in 2020. ZA Coin can also be converted into cash and credited to ZA Bank users.
About 30,000 users transact daily with ZA Coin, and over the past month, nearly 150,000 users have made such transactions, representing about 40% of ZA Coin’s user base.
ZA International was established in Hong Kong in 2017 by ZhongAn Online, the first online-only insurer in Mainland China, to explore international fintech and insurtech opportunities.
The company previously launched its investment fund services and a feature to enable retail investment in initial public offerings, and was granted a virtual bank license via its subsidiary ZA Bank March 2019.
ZA International says that it also plans to enter into a mutual collaboration agreement with HashKey, and that it is a participant in the Hong Kong Monetary Authority’s Project Inthanon-LionRock.
“We look forward to more extensive application of ZA Coin after tokenisation, such as payments for goods and services, investments, token redemption through interactions with other ZA Coin users,”
said Wayne Xu, President of ZA International.
