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Posted on 22/04/2018 in NEWS

An Australian startup is launching its own bar and restaurant Crypto Currency

An Australian startup is launching its own bar and restaurant Crypto Currency

Australians dining rewards-based payment startup Liven is creating its own cryptocurency, LivenCoin.

The Melbourne-based loyalty program company says the move will be the first to enable Australians to transact with cryptocurrency in daily life on a large scale — buying food and drink at 700 restaurants — via the Liven app.

The app, founded in 2014 by siblings William and Grace Wong, and engineer Dr David Ballerini, allows 180,000 users to be credited with 15% to 25% of their bar and restaurant bills, which can then be spent on their next outing or donated to charity.

The app has raised $11.5 million in traditional capital and processed $5 million in bill payments.

The fintech today also launched the pre-sale for an initial coin offering with a goal of $65 million to power Liven’s latest venture. There is a minimum buy-in equivalent to $10,000 of ethereum.

For non-investors, LivenCoins will be earned when users eat out when the updated platform launches in August this year.

LivenCoins will be able to be spent at partner restaurants across the Liven network including 8Bit Burgers, Poke Bowl, Roll’d, Crinitis, Mad Mex, Massi, AU79, Nene Chicken and Nandos.


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