Crypto-keen South Korean Travel Unicorn Sets Sights on 2021 IPO

Source: A screenshot, Instagram / yanolja.official

Yanolja, one of South Korea’s largest travel companies and the fastest growing, most crypto-loving unicorns, is aiming for an IPO next year.

Per Newsway, Yanolja, which operates its own digital token-based rewards program, has hired domestic heavy-hitters Mirae Asset Daewoo and Samsung Securities monitor the offer, which it intends to close “in 2021”.

Yanolja has a number of crypto bonds and has built a close business relationship with the country’s leading crypto exchange. Bithumb. Another close partner is milk, a blockchain-based loyalty point platform that it claims has amassed over 110,000 users since its launch earlier this year.

The three companies this year presented plans for the introduction of decentralized digital ID services (DID) with tokens and blockchain on the Yanolja platform.

Mil.k and Yanolja have signed a contract that allows owners of Yanolja’s own blockchain-based digital asset Yanolja Coin to exchange their tokens for Mil.k tokens.

Although Yanolja coin tokens cannot be traded on crypto trading platforms, Mil.k tokens are listed on a number of crypto exchanges.

Yanolja has also created a number of blockchain business plans and has a partnership with the stablecoin issuer Terra.

The company was founded in 2007 as a hotel booking service provider and has seen tremendous growth. A Series D round of investments at the end of the year put the company in the unicorn $ 1 billion range. according to Tech Crunch – making it the first domestic travel company to achieve unicorn status.

Per Yanolja had an annual growth rate of 70% last year and has partnership agreements with “more than 20,000 partner properties all over South Korea”.

If successful, Yanolja would become South Korea’s first publicly traded unicorn. The company did not specify which exchange it is targeting, but rather the KOSDAQ is seen as the market of choice after postponing an earlier IPO in 2018.
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