CyClean Makes History by Acquiring Ketch’Up Company with its Tokens
Acquisitions are a common business practice, and they happen all the time. With the recent boom of cryptocurrency projects, acquisitions have taken place in the crypto sphere as well. For example, Coinbase recently expanded its business through its acquisition of Paradex. While this practice is not uncommon, there has never been a case where an acquisition was made in whole with cryptocurrencies. Until now.
CyClean is proud to announce the acquisition of Ketch’Up, the 3rd largest bicycle sharing platform in Hong Kong. It is the first time in history that a company has bought the managerial rights of another company with tokens and not cash or spot goods. CyClean and JPAY tokens were transferred in exchange for a 60% share of IMUSIC THINGS LIMITED, the holdings company of Ketchup Shared Bicycle Platform. This is big news not only for CyClean, but for all cryptocurrencies. We believe the precedent that we have set will lead to projects following our footsteps in the future.
CyClean and Ketch’Up are delighted to start this new chapter for both our companies. We share the vision for reduced gas emissions and a cleaner earth. Let us introduce to you what Ketch’Up does and how it does it.
Ketch’Up is a Hong Kong bike rental company whose mission is to reduce carbon emissions. The Ketch’Up team has developed an environmentally friendly public transportation system that connects the residents of Hong Kong. In this ecosystem, anyone is able to purchase a Ketch’Up bicycle, which is then rented to people who have places to go to. A GPS tracking system allows the owner to keep an eye on the location of their bike, which means they do not have to worry about theft. People who rent these bikes can open the app on their phones to check the distance travelled and the fees they need to pay. All they have to do is scan the code on the bicycle, ride it to their destination, and pay.
Here is an image of the Ketch’Up bicycle.
The beautiful black and red design renders the bicycle not only eco-friendly, but also aesthetically pleasing.
Besides the fact that the bike is gorgeous, renters and owners both benefit from Ketch’Up’s service. Owners are able to buy a bike for about $1,600 dollars as an initial investment, but they are able to earn their money back and make a profit. Those who need to get to places rent the bicycle without having to buy one! This is a win-win system.
To see how it works, check out this video here:
https://www.ketchupbike.com/video/KetchUpBike-video-1.mp4
CyClean is happy to have acquired Ketch’Up as a part of its business expansion plan. We both share a common vision, and that has helped us in coming to this decision. Furthermore, CyClean has already established a bike rental and sharing community in South Korea with CyCleans’ electric bicycles. With its experience, CyClean believes it will make this business even more successful in Hong Kong. Starting with Hong Kong, we truly believe that we can effect change in the international movement for clean air and energy.
CyClean is again grateful for how things have progressed and is proud to make the first ever acquisition with cryptocurrencies.
** For more information about CyClean, please visit our website at cyclean.io.
CyClean is proud to announce the acquisition of Ketch’Up, the 3rd largest bicycle sharing platform in Hong Kong. It is the first time in history that a company has bought the managerial rights of another company with tokens and not cash or spot goods. CyClean and JPAY tokens were transferred in exchange for a 60% share of IMUSIC THINGS LIMITED, the holdings company of Ketchup Shared Bicycle Platform. This is big news not only for CyClean, but for all cryptocurrencies. We believe the precedent that we have set will lead to projects following our footsteps in the future.
CyClean and Ketch’Up are delighted to start this new chapter for both our companies. We share the vision for reduced gas emissions and a cleaner earth. Let us introduce to you what Ketch’Up does and how it does it.
Ketch’Up is a Hong Kong bike rental company whose mission is to reduce carbon emissions. The Ketch’Up team has developed an environmentally friendly public transportation system that connects the residents of Hong Kong. In this ecosystem, anyone is able to purchase a Ketch’Up bicycle, which is then rented to people who have places to go to. A GPS tracking system allows the owner to keep an eye on the location of their bike, which means they do not have to worry about theft. People who rent these bikes can open the app on their phones to check the distance travelled and the fees they need to pay. All they have to do is scan the code on the bicycle, ride it to their destination, and pay.
Here is an image of the Ketch’Up bicycle.
The beautiful black and red design renders the bicycle not only eco-friendly, but also aesthetically pleasing.
Besides the fact that the bike is gorgeous, renters and owners both benefit from Ketch’Up’s service. Owners are able to buy a bike for about $1,600 dollars as an initial investment, but they are able to earn their money back and make a profit. Those who need to get to places rent the bicycle without having to buy one! This is a win-win system.
To see how it works, check out this video here:
https://www.ketchupbike.com/video/KetchUpBike-video-1.mp4
CyClean is happy to have acquired Ketch’Up as a part of its business expansion plan. We both share a common vision, and that has helped us in coming to this decision. Furthermore, CyClean has already established a bike rental and sharing community in South Korea with CyCleans’ electric bicycles. With its experience, CyClean believes it will make this business even more successful in Hong Kong. Starting with Hong Kong, we truly believe that we can effect change in the international movement for clean air and energy.
CyClean is again grateful for how things have progressed and is proud to make the first ever acquisition with cryptocurrencies.
** For more information about CyClean, please visit our website at cyclean.io.
