Metaps Plus and OST Announce Partnership to Tokenize $140M+ Mobile Coupons Market

Metaps Plus operates a Marketing platform for mobile apps, servicing 300,000 daily active users and achieving 100 million app downloads per year. It also operates Korea’s largest mobile coupon platform and partners with 34,000 merchants, processing USD $140 million of coupon transactions in 2017.

Today I am thrilled to welcome Metaps Plus as our latest OST Partner Company.

Metaps Plus, a leading mobile marketing platform developer and a subsidiary of the Tokyo-listed Metaps Group (TSE:6172), has entered into a strategic partnership with OST to develop Blockchain-powered mobile coupons and payments, leveraging OST technology and the OpenST and OpenST Mosaic Protocols.

Ben and I first met Metaps in Seoul, South Korea, last month at our OST Presentation at HASHED. Metaps was seeking a partner to help them develop a branded blockchain economy that could scale to their massive consumer transaction volume. After attending our presentation of the OpenST Protocol, OpenST Mosaic protocol scaling solution, and OST KIT developer tools, Metaps went deep on understanding OST technology for blockchain-enabling mainstream apps. Over the past couple of weeks we cemented the partnership and began defining an exciting project plan.

Earlier this week Jisoon Lim, CSO of Metaps Plus sat down with Chris Dark, OST Chief Commercial Officer, and Jose Mota host of OST LIVE to discuss the partnership:

Metaps Plus, founded in 2009, is Korea’s largest mobile Fintech company. It also operates Korea’s biggest mobile coupon platform with 34,000 partnering merchants. In 2017 Metaps Plus processed $140M worth of coupon transactions.

Our collaboration with Metaps Plus will first focus on tokenizing mobile coupons. While mobile apps made coupons more convenient and user-friendly compared to its paper equivalent, end-consumers are still facing many traditional limitations like expiration dates, minimum purchase thresholds or restricting exchange at selected stores and locations.

Blockchain tokens solve many of these issues as they are tradable and have an inherent market value, bringing more flexibility to the end-user. To reflect the large variety of coupons that Metaps Plus currently processes, our partnership will tap into key areas of Blockchain development like Non-Fungible-Tokens to represent unique digital assets.