Korea Points Exchange (“KPX”), on behalf of GPEX Platform, announced that it has signed a strategic business agreement (MOU) with PUMP, the operators of ‘Xingxing,’ an electric scooter sharing service.
The signing ceremony took place at the headquarters of Korea Points Exchange in, Seoul on May 20th and was held in the presence of key executives of both companies, including John Kim, CEO of Korea Points Exchange, and Sang-Hoon Kim, CEO of PUMP.
Through this agreement, the two companies will push forward for joint marketing to promote the use and increase the brand recognition of e-scooter sharing service ‘Xingxing,’ and ‘GPEX’, a blockchain financial platform. Both companies will work together to expand into the blockchain ecosystem through technical cooperation and cryptocurrency swapping.
“Recently, Xingxing’s service operation area and scale has greatly expanded. We are seeking further methods to improve the user experience and increase the convenience of use,” said Sang-Hoon Kim, CEO of PUMP Co., Ltd. “We will do our best to become a leading company in the integrated mobility service industry by further increasing the brand recognition and service satisfaction through various collaborations.”
John Kim, CEO of Korea Points Exchange Co., Ltd. said, “The 20s and 30s generation, the main users of electric scooters, is accustomed to investing in cryptocurrencies such as Bitcoin and Ethereum and purchasing virtual asset products such as NFTs. Therefore, we see various collaboration methods that can create marketing synergy between the two companies. We will actively push to become a virtual asset linkage service that can bring value to the real world.”
PUMP Co., Ltd. is leading the South Korean personal mobility industry through Xingxing, an e-scooter sharing service. As of April, Xingxing has 400,000 monthly active users (MAU) and 1.5 million cumulative subscribers. Xingxing is particularly enhancing customer convenience by collaborating with various mobility service platforms such as Kakao T, TMAP, and T-money GO, and provides subscription pass products so that users can enjoy convenient mobility at a reasonable cost.
In addition, Xingxing is developing various services for the safe use of e-scooters such as, ‘The Reassuring Xingxing’, a care service for users, and is actively creating social jobs through senior intern business agreements.
KPX, a software development and consulting company in collaboration with the GPEX platform, seek to bridge traditional finance with blockchain technology including cryptocurrency. KPX has secured strategic investment from key online platforms and service providers including Spectrum Payment Solutions, a US based payment technology company in December 2021. The GPEX platform has secured investments globally including Shima Capital, a leading venture firm focused on cutting edge blockchain startups.
Moreover, Korea Points Exchange Co., Ltd. is actively expanding its business, as reflected by business agreements with Lotte Members, the operator of L.POINT, which has more than 40 million members, and SJW International, the operator of Siwon School, a foreign language learning content service with more than 1.8 million members.