Japanese gift card exchange to expand across the globe via blockchain provider

Wednesday 21 August 2019 10:50 CET | News

Amaten, a Japan-based secondary marketplace for gift cards, has teamed up with the Singapore-based cloud computing startup Aelf to expand its services across the globe.

The exchange plans to scale its operations internationally using Aelf’s enterprise-oriented blockchain platform. Founded in 2012, Amaten has grown to capture 40% of Japan’s gift card exchange volume and takes in approximately USD 110 million in revenue annually, according to CoinDesk.

By converting gift cards to digital assets managed by Aelf’s platform, the company aims to transform the way gift cards are issued, purchased and exchanged. Aelf’s blockchain will provide an immutable record of a gift card’s issuance and any exchanges of ownership, thereby increasing the transparency of Amaten’s platform.

The exchange also suggests that blockchain may reduce the amount of gift cards that go unspent.

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Keywords: Amaten, Japan, partnership, gift cards, blockchain, marketplace, blockchain provider, Aelf
Countries: World