The partnership will set a higher standard for how crypto-based rewards are safeguarded in the travel industry.
FlyCoin, Inc., a cryptocurrency-based travel rewards technology company, announces today their partnership with BitGo, the industry’s gold standard for custody and security solutions. FlyCoin will hold a significant portion of the company’s minted cryptocurrency token, FLY in BitGo’s US Qualified Custody Solution. The announcement comes on the heels of Flycoin’s $33M seed funding earlier this year.
“As we continue to grow Flycoin’s ecosystem of partners and end-users, it is critical that we properly safeguard these digital assets. BitGo’s reputation and credibility as a global leader in digital asset cryptocurrency are unmatched, and a key factor in our decision to partner with them in this capacity,” stated Lenny Moon, Flycoin’s CEO.
Custodians of crypto assets play an essential role in storing and securing digital assets, while also interacting directly with brokers and exchanges to facilitate transactions for institutional and individual stakeholders. BitGo’s global reach , and other platform services in addition to providing qualified custody, align well with Flycoin’s focus on scaling its rewards platform offerings globally.
“I am very pleased to work closely with the FlyCoin team and for BitGo to be a trusted partner in their journey to revolutionize the travel rewards industry through the use of blockchain technology” said Kai Kono, Managing Director, Global Head of Digital Asset Sales, BitGo.
Flycoin’s partnership with BitGo will go a long way toward further enhancing their portfolio of partners. Last month, the company announced major crypto heavyweights Lisa Nestor and Rena Shah as strategic members of their advisory team. Other Flycoin partners include ThanksAgain, and Ravn Alaska Airlines.
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