Sets Stage for Rollout in China

Online currency creator Tuesday
launched its China operations through a new office in Hong Kong.’s Asia operations will be run by president, Asia
Pacific, David Yuen. Yuen is expected to lead the company’s expansion
interests in the Hong Kong, Taiwan and China markets by the middle of this

The launch follows on’s most recent overseas endeavour in
Australia, which debuted four months ago. The service now boasts 100,000
subscribers since the Australia debut.

“With established Internet communities in Hong Kong, Taiwan, and China
rapidly evolving in terms of numbers, sophistication and access, we see
tremendous opportunities forbeenz to act as the single transnational Web
currency in the region,” said Philip Letts,’s chairman and chief executive officer.

“Following a successful first year during which we have signed up more than
600,000 Internet users and those consumers have completed 15 million
transactions across the United States, Europe and Australia, expanding the
beenz concept into Greater China through Hong Kong is a logical progression
of our aggressive growth plans.”

beenz work as reward currency for online activities at participating sites,
and can be spent at beenz trader sites. The company aims to woo merchants by
offering a means of attracting and retaining customers.

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