Trading to begin today of Linka’s virtual currency

Linka’s virtual currency will begin trading on the ABCC Exchange today.

Linka is a Singapore-based company that offers digital financial services, including a virtual currency wallet and payment service. It issues its own virtual currency called Linka Tokens.

When users purchase goods using Linka’s payment service, PayBack, they can get a refund of 10 percent of the value of their purchases in Linka Tokens. These tokens can be traded on the exchange or used to buy things.

“We expect that Linka’s token economy where digital assets turn into physical assets will become a unique payment instrument unaffected by price fluctuations of Bitcoin,” said Kim Jung-hyeok, co-CEO of Linka. “Linka is considering more listings on other major Korean and overseas exchanges.”

The company expects that the listing on ABCC will help it launch its financial services in other countries like Singapore, the Philippines and Cambodia.

“Given that above 70 percent of the Southeast Asian population are unbanked, Linka is aiming to benefit the unbanked by providing better financial access through Linka’s payment, credit and remittance services,” co-CEO Lee Jeung-wook added.

ABCC is a global virtual currency exchange founded by Calvin Cheng, a former parliamentarian in Singapore.

By Kim Eun-jin