Klevo Rewards Limited (ASX: KLV), an Australian rewards, loyalty, and payments technology company delivering customised, subscription-based marketplace solutions for corporate clients, members, and consumers, has announced a significant step towards launching its stablecoin trial. Its wholly owned subsidiary, Fly Wallet Pty Ltd, has received legal advice regarding its proposed KLVAUD Australian dollar-backed stablecoin.
The advice from Hamilton Locke indicates KLVAUD is expected to qualify as an eligible stablecoin under the Australian Securities and Investments Commission’s (ASIC) current stablecoin relief framework. This is subject to finalisation of product documentation, reserve arrangements, and a compliance framework. This guidance paves the way for the trial’s commencement.
KLVAUD is proposed to be fully backed 1:1 by Australian dollars, held in segregated reserve accounts. This stablecoin is intended to bolster Fly Wallet’s broader ecosystem, encompassing payments, Mastercard services, and its digital rewards program. Klevo Rewards anticipates initiating the stablecoin trial by 30 June 2026, a key development in its innovative payment solutions.
This initiative underscores Klevo’s focus on building scalable technology and expanding commercial partnerships across the rewards, loyalty, and payments ecosystem. The company aims to deliver more meaningful customer and employee engagement through tailored benefits and data-driven promotional campaigns. The Board of Directors authorised this market update.
