Moves Into Asia-Pacific Region

Web currency specialist
will co-ordinate its launch into Asian-Pacific markets by opening an
Australian office, the company announced Thursday.

The latest beenz news comes just two weeks after the company
revealed its marketing tie-up with Excite UK and secured
an additional $20 million in finance for its continued expansion.

“ has proved the validity of its proposition in both
Europe and the U.S., and the completion of our third round of
funding has allowed us bring our concept to Australia that much
faster,” said Phil Letts, CEO of

“Once the Australian office has been established, we will be
setting up in Japan, which we envisage happening before the
end of the year.”

beenz has been designed as a marketing tool with the aim
of attracting and keeping users’ attention as they browse
and shop online. Consumers who collect the currency by visiting
sites and purchasing goods can spend their beenz on books,
CDs, etc., at participating traders.

One of the major investors in is the Japanese
communications company Hikari Tshushin. When beenz launches
in Japan it will become available through all the Hikari businesses,
which include mobile communications, Internet services and Web TV.

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