Place/Date: Korea - September 10th, 2019 at 6:42 am UTC · 3 min read
Contact: Bina Cho, VP of Marketing Strategy, Source: apM Coin
Blockchain Project apM Coin, led by apM-a wholesale shopping mall in Dongdaemun, accelerates global expansion. On the 9th, apM Coin held a signing ceremony with consulting firm Block72 at its apM S&S headquarters and signed a strategic partnership for global expansion. apM Coin CEO Richard Seok and Block72’s partner Sinhae Lee participated in the event.
Through this partnership, apM Coin will focus on entering the market and expanding its global business with Block72, which provides consulting and accelerating in global markets including South Korea, China and the U.S. Aiming to launch the service in November, apM Coin is developing its own mobile application called apM Members and is planning to step up efforts to attract global marketing and users along with Block72.
apM Coin is a project that focuses on building blockchain-based customer compensation and payment systems optimized for clothing wholesale market by utilizing apM Group’s business know-how in clothing wholesale market.
In particular, the apM Coin is expected to show rapid growth based on the power of the apM shopping mall, which has more than 1,300 wholesale clothing brands, the average daily visitor of 10,000, the cumulative annual visitor of 1.5 million, and more than 80 percent of the visitors are overseas consumers.
It aims to create an efficient and convenient trading environment by gradually introducing a digital trading system that can be satisfied by both buyers and sellers in various business areas, including its own auxiliary facilities at the apM mall.
CEO Richard Seok of apM Coin said,
“apM Coin is a project that aims to utilize blockchain technology in the clothing wholesale distribution business through partnership with apM Group, a leading company in the fashion wholesale market in Korea, and contribute to sustainable growth of the Korean clothing wholesale market in the digital era. We expect that this partnership with Block72 will expand the ecosystem of apM Coin and prepare strategic expansion into China and other Southeast Asian countries.”
Block72’s partner Sinhae said,
“The link to real life is one of the challenges many blockchain projects have failed to solve. We hope to seek to expand the business of apM Coin through Block72’s global network and create a good use case through the growth of the project.”
apM Coin is a blockchain-based payment project that introduces blockchain and tokenization technology in the customer reward system to improve the transparent customer reward system and the convenience of shopping and payment.
apM’s blockchain payment cryptocurrency will be divided into a token called apM Cach, which will be distributed inside the apM ecosystem, and a token called apM Coin, which will be used for listing on the exchange, and will be used interchangeably. The apM Cach is accumulated and used as mileage at various stores in the shopping mall, and the apM Coin has the value to let consumers and merchants participate in the ecosystem.
This project’s partner apM Group is a leading wholesale fashion company in Korea, founded in 1999. Three shopping malls under the group-apM, apM Luxe and apM PLACE-currently have more than 1,300 brands, averaging 10,000 visitors per day and accumulating 1.5 million visitors per year.
Based on a strong consumer base owned by apM shopping mall in both domestic and foreign markets, the apM Coin project aims to establish an optimized payment system in the wholesale clothing market, create an ecosystem where both buyers and sellers can coexist and enhance global competitiveness through the introduction of blockchain.