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NEM’s partner LoyalCoin [LYL] partners with Grab Philippines

Akash Anand



NEM's partner LoyalCoin [LYL] partners with Grab Philippines
Source: Pixabay

In a Twitter post on 6th July, NEM has announced that it will be partnering with a ride-hailing platform ‘Grab’ to further its projects in the Philippines. Grab Philippines will soon start accepting LoyalCoin to purchase Grab vouchers in the loyal wallet app to avail discounts. LoyalCoin [LYL] had partnered with NEM in November 2017.

NEM's tweet | Source: Twitter

NEM’s tweet | Source: Twitter

Grab is a Singapore based ride-hailing company with services now functioning in several countries in South Asia. They recently launched a new food delivery service and upgraded its customer support service.

NEM and LoyalCoin are working towards laying a strong foundation for blockchain technology in Southeast Asia, with the NEM blockchain center in the Philippines being a testament to that.

Superior smart contract plugins used by NEM enable its blockchain engine to power both, public and private networks. The NEM Foundation aims to overtake others in the blockchain industry by pushing enterprise solutions. The additional perks of these plugins are advanced account systems, swaps that will be decentralized and secure and business logic modeling. The platform is also planning to strengthen its digital asset creation functions.

The NEM blockchain was launched in March 2015 aiming to provide solutions for enterprise and believes that technology should always be envisioned as out of the box.

De_Vi_L_uCa_s, a crypto enthusiast commented on the post:

“Wow, this is big. I believe this can bring NEM to a whole another level.”

LoyalCoin is currently standing at 269 in the cryptocurrency market rankings. The coin is trading at $0.047 with a market cap of $23.43 million. Post the announcement, the coin saw a surge of $7.68 million in its market cap, from $15.76 million to $23.44 million in about 45 minutes post the announcement.

CoinMarketCap's chart | Source: CoinMarketCap

CoinMarketCap’s chart | Source: CoinMarketCap

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Engineering graduate,crypto head and Arsenal fan. Is fascinated by technology and all its marvels. Strictly against pineapple on pizza.