With the intention of increasing its range of advantages for its customers and contributing to the popularization of cryptocurrencies, Dotz, a loyalty program company, announced a new initiative, this time linked to the cryptocurrency market.
Before that, the company already allowed the conversion of Dotz into fiat currency, through its digital account.
The novelty is the fact of including bitcoin in its range of options, allowing customers to transform their balances into BTC.
In addition to being easy for people who invest in bitcoin, the partnership has the solidity of 2 large companies behind it, involving a company listed on the Stock Exchange (Dotz, which has its shares listed on B3 under the ticker DOTZ3) and the broker Foxbit , which is one of the largest and oldest cryptocurrency exchanges in the world, and which today has around 750,000 registered customers.
New to the São Paulo Stock Exchange, B3, Dotz held its IPO ("Initial Public Offering", or "Initial Public Offering", in Portuguese, which means when the company started trading its shares on the Stock Exchange) in May 2022.
Among the various news that it has been announcing, one of them drew a lot of attention, which was the partnership with the Ant Group, the financial subsidiary of the giant Alibaba.
With the launch of the functionality, the company now offers its customers the possibility to exchange their accumulated points on the Dotz platform for bitcoin (BTC).
Dotz claims that the initiative is “another step towards the universe of digital finance and innovation”.
Ricardo Gazetta, Director of New Business at Dotz, stated that “In addition to an innovation, we are expanding the possibilities of using the Dotz currency and giving our consumers more freedom to choose what really impacts their daily lives. We had already gone ahead with the conversion of Dotz into cash in the digital account and now the client can transform the balance into cryptocurrencies as well”.
On Foxbit's side, Co-CEO Ricardo Dantas stated that the brokerage firm intends to “popularize bitcoin and other cryptocurrencies. The partnership with Dotz is another step in this direction, so that more and more people have contact with an innovative market and have the freedom to choose what they do with their money”.
How does it work in practice?
Dotz will not be directly involved in the crypto market. This role will be in charge of Foxbit, which has the know-how and the necessary experience to manage the values in cryptocurrency in a secure way.
Simply put, interested parties must authorize their participation in the program through the Dotz rewards program catalogue.
In parallel, they will have to create an account at the Foxbit brokerage (using the same e-mail registered with Dotz), an account that will allow them to receive the cryptocurrencies.
With these processes carried out, they will receive vouchers that can be exchanged for crypto.
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The Dotz content announces exchange of points for bitcoins in partnership with Foxbit first appeared in Cointimes .