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Crypto-keen South Korean Travel Unicorn Sets Sights on 2021 IPO

Supply: A screenshot, Instagram/yanolja.official

Yanolja, one in every of South Korea’s greatest journey corporations and fastest-growing, most crypto-keen unicorns, is heading for an preliminary public providing (IPO) subsequent 12 months.

Per Newsway, Yanolja, which operates its personal digital token-powered rewards program, has employed home heavy-hitters Mirae Asset Daewoo and Samsung Securities to supervise the bid, which it hopes to finish “in 2021.”

Yanolja has a sequence of crypto tie-ins, and has constructed up a detailed enterprise relationship with the nation’s market-leading crypto alternate, Bithumb. One other shut companion is Mil.ok, a blockchain-powered loyalty level platform that claims to have amassed over 110,000 customers since its launch in spring this 12 months.

The three corporations have this 12 months unveiled plans to launch token and blockchain-powered decentralized, digital ID (DID) companies on the Yanolja platform.

Mil.ok and Yanolja have a deal that permits holders of Yanolja’s personal blockchain-powered digital asset, Yanolja Coin, to swap their tokens for Mil.ok tokens.

Though Yanolja Coin tokens are usually not tradable on crypto buying and selling platforms, Mil.ok tokens are listed on a lot of crypto exchanges.

Yanolja has additionally laid out a set of blockchain enterprise plans, and has a partnership with the stablecoin issuer Terra.

The agency started life as a lodge bookings service in 2007, and has singe loved sprawling progress, with a Collection D funding spherical late 12 months pushing the corporate into the USD 1bn unicorn bracket, in accordance with Tech Crunch – making it the primary home travel-related firm to amass unicorn standing.

Per CNBC final 12 months, Yanolja had an annual progress price of 70% and has partnership offers with “greater than 20,000 companion lodging throughout South Korea.”

If profitable, Yanolja would develop into South Korea’s first publicly listed unicorn. The agency didn’t point out which alternate it’s focusing on, however the KOSDAQ is believed to be its market of selection, after the corporate rescheduled a previous IPO effort again in 2018.
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