Klevo Rewards Limited (ASX: KLV) has announced a strategic partnership between its subsidiary, Fly Wallet Pty Ltd, and global digital asset platform Bybit. Klevo Rewards is a global provider of customised subscription-based reward and loyalty-based marketplaces for corporates and consumers. The collaboration aims to develop and launch KLV Coin (KLVAUD), an Australian dollar-backed stablecoin, alongside an integrated payments and rewards ecosystem. This initiative positions Klevo at the forefront of convergence between real-time rewards, digital assets, and payments infrastructure, broadening access to a rapidly growing global user base.
KLVAUD will function as both a store of value and a rewards instrument within the Klevo ecosystem. Users can acquire KLVAUD by direct purchase through supported platforms, including Bybit, or by earning it through everyday spending with the Klevo/Bybit Mastercard. Unlike traditional loyalty programs, KLVAUD can be spent anywhere Mastercard is accepted, driving continuous user engagement. Fly Wallet will issue KLVAUD, pegged 1:1 to the Australian dollar and fully backed by AUD reserves held in segregated accounts. Bybit will act as a global distribution partner, facilitating access to KLVAUD and supporting custody, trading, and onboarding.
The partnership also includes plans to launch a co-branded Bybit KLV Mastercard, enabling users to seamlessly spend KLVAUD at point of sale and convert digital assets into fiat currency in real time. This integrated approach is expected to create a closed-loop ecosystem where users earn KLVAUD through spending, redeem it for future transactions, and merchants benefit from increased customer engagement. The parties will jointly implement a global go-to-market strategy with a minimum annual marketing commitment of AUD $500,000.
While the agreement is currently a non-binding Heads of Agreement, Klevo expects this partnership to drive increased adoption of KLVAUD, expansion into global markets, and the delivery of a fully integrated rewards and payments ecosystem. The company says it remains focused on making everyday spending more rewarding, flexible, and accessible for users globally. Initial rollout costs are expected to be funded from existing working capital, with the potential for additional capital raising if required.
