Singaporean bikesharing company oBike has just announced that it is set to launch its own cryptocurrency, oCoins, in the first quarter of 2018.
This comes as the result of a partnership with blockchain platform TRON.
The oCoins can be used by oBikers to pay for their rides and top up their oBike wallets.
oCoins are generated by oBikers whenever they ride the bikes, and the longer they ride, the more oCoins they’ll earn.
Said oBike co-founder and CEO Edward Chen, “We are thrilled to announce our partnership with TRON, a leading decentralised online content entertainment system.”
Justin Sun, founder of TRON, also expressed his excitement about the partnership:
Merry Christmas! We are exciting to announce our partnership with Obike. Obike is one of the largest sharing economy companies active in 20 countries across Europe, Asia and Australia with 10 million users. Obike will launch sharing bike application and Ocoin based on #TRON #trx pic.twitter.com/dG60lo7iZb
— Justin Sun (@justinsuntron) December 24, 2017
TRON’s cryptocurrency, TRONIX (TRX), is said to be ranked number 18 worldwide in the list of cryptocurrencies.
TRX is also reported to have a “market capacity of US$2.6 billion and is currently trading at US$0.04”.
Watch this space for updates.