DUBAI – October 13, 2022 – Tribal Credit, a payments and 360° financing platform for emerging market businesses, today announced that it is piloting Boomerang Rewards, the first blockchain-based rewards program for emerging market businesses. Through Boomerang Rewards, Tribal Credit’s customers are eligible to earn industry-leading rewards on their business expenditures via Tribal’s corporate Visa® cards.
Tribal is conducting the Boomerang Rewards pilot in partnership with KuCoin, a digital asset platform with its operational headquarters in the Seychelles. Using KuCoin’s digital wallet technology, Boomerang Rewards delivers powerful customer rewards via the Tribal Token (TRIBL), an Ethereum-based token.
“At Tribal, our mission is to empower businesses in emerging markets with cutting-edge financial technologies,” said Ehab Zaghloul, Chief Research Scientist at Tribal, “Leveraging the power of blockchain, Boomerang Rewards enables a revolutionary rewards experience for Tribal’s customers.”
Tribal Credit customers outside of the United States can use their Tribal Tokens to access exciting benefits, including higher rewards tiers in the Boomerang program.
TRIBL tokens can only be purchased, earned or redeemed by non-U.S. persons. U.S. persons are prohibited from purchasing, earning or redeeming TRIBL tokens. A “U.S. person” is any natural person resident in the United States or any entity defined as a “U.S. person” by SEC Rule 902(k). “United States” means the United States of America, its territories and possessions, any State of the United States, and the District of Columbia.”
