Buying.com Develops BUY Token Cryptocurrency on Algorand Platform
Buying.com launches its BUY token built on the Algorand platform
Buying.com, a leading player in hyperlocal e-Commerce fulfillment and distribution, is launching its BUY token on the Algorand platform. This exciting new token plans to exchange listed by Q2 of 2021.
Buying.com’s initial foray in hyperlocal distribution has been its fulfillment operations in the food service sector and aggregates the orders and deliveries from popular food-ordering apps such as Doordash, GrubHub, Uber Eats, and Postmates. This provides restaurants with a single easy entry point to manage all orders and deliveries. The BUY token’s maiden use case is in rewarding loyalty of restaurants participating in the program.
“We chose Algorand for the foundation of our token given the fact that it has low transaction costs, and has extremely high transaction speeds. Our rewards program is to recognize the loyalty of our participating restaurants, and the Algorand technology was a natural fit for creating our utility token,” stated Jean Gabriel, CEO of Buying.com.
The BUY token was developed by NetObjex, a leading player in the new era of the Machine Economy. “Algorand is emerging as a blockchain leader with over 500 companies who have already integrated Algorand into their stack. The Algorand ecosystem includes global exchanges, asset issuers (including stablecoins USDT and USDC), and supporting infrastructure including custodians, wallet providers, and identity providers. With its low transaction fees, it meets the needs of Buying.com,” said Raghu Bala, CEO of NetObjex.
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