Vietnam Digest: Triip offers 100m travel tokens in ICO; RedFOX Labs, Kinetic Consulting ink JV

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A token representing Bitcoin virtual currency sits among cables and LED lighting inside a 'mining rig' computer in this arranged photograph in Budapest, Hungary. Photographer: Akos Stiller/Bloomberg

Vietnam-based traveltech startup Triip has offered for sale 100 million travel tokens for its month-long ICO while blockchain venture builder RedFOX Labs has established a JV with Kinetic Consulting Services of Dubai to take its blockchain business to the Middle East and Northern Africa region.

Triip offers for sale 100m travel tokens in its ICO

Vietnam-based traveltech startup Triip has offered for sale 100 million travel tokens for its month-long ICO ending March 31, according to an official release.

The new travel token TriipMiles (TIIM) is being offered for public sale for the first time in a reverse ICO. TIIM can be purchased with Tomochain’s token TOMO or Ethereum ETH.

Southeast Asia focused-venture capital firm Vynn Capital participated in the ICO.

TIIM currency can be used to buy tourism services. Triip offers a wide range of travel products including 6,000 local experiences—in 100 countries around the world—which are payable in TIIM.

“We believe tourism with 1.2 billion travelers every year is the right industry for blockchain mass adoption. The fast growth of our Triip app is a strong indicator for our vision,” said Mr. Hai Ho, Triip Co-founder and CEO.

TriipMiles is co-created by 100 travel innovators and Triip Pte. Ltd., a VC-backed Singapore-based startup that provides a first-to-market blockchain solution for sustainable travel.

Vietnam-based RedFOX Labs signs JV with Dubai’s Kinetic Consulting 

Vietnam-based blockchain venture builder RedFOX Labs has established a joint venture with Kinetic Consulting Services of Dubai to take its blockchain business to the Middle East and Northern Africa region, according to a release.

RedFOX Labs is a blockchain based tech company that identifies and builds proven unicorn business models for the emerging markets of Southeast Asia and now the MENA region.

“RedFOX Labs had the MENA region earmarked for the future but it seems the demand brings us there sooner than we had expected,” said Ben Fairbank CEO and Founder of RedFOX Labs.

RedFOX, which is led by an experienced team of Australian C Level executives, has started designing its first few lead projects in Vietnam, to tackle the bustling and emerging markets of the Southeast Asia region.

The blockchain company will now look to begin their collaboration with Kinetic Consulting Services as early as this month as they commence their seed round raise and begin to ramp up operations.

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