Alipay+ launches Web3-enabled voucher program on Avalanche

Alipay+, the largest payment app in China, has teamed up with blockchain network Avalanche to power a new Web3-enabled voucher and e-wallet program.

Avalanche will power this program for Alipay+ D-store, the payment app giant’s digitalization solution.

AvaClound, a managed blockchain service that allows for the development and deployment of scalable decentralized networks, will manage the customized Avalanche Subnet.

Also part of the collaboration are Alipay+ partnered e-wallets, according to details in a recently published news release.

Program targets Southeast Asia market

In the first phase of this proof-of-concept (POC) program, the goal is to provide discounts of up to 50% on popular milk tea brands across over 500 shops in Southeast Asia. There are plans to increase access to more than 2,000 shops, Avalanche wrote in the blog post.

According to the platform, users will be able to get vouchers when they play a branded mini game.

In the second phase, the program will expand to include food and beverage merchants. The project will aim to reach over 100 million users across the Philippines, Singapore, Malaysia, and Thailand. It will also be open to Chinese citizens visiting these countries as tourists.

Alipay+ e-wallet partners in Southeast Asia can offer these services. All they need to do is integrate Alipay+ D-store and activate Avalanche’s Web3 capabilities.

JPMorgan, Citibank, Deloitte and blockchain game SHRAPNEL are some of the top users of AvaClound. Meanwhile, Avalanche (AVAX) is currently the 10^th largest cryptocurrency by market cap at $20.2 billion.

According to DeFiLlama, the total value locked (TVL) in Avalanche DeFi protocols stood at $1.13 billion on March 20, 2024.