Klevo Partners with Bybit to Launch AUD-Backed Stablecoin and Global Rewards Mastercard

An announcement from My Rewards International Limited ( (AU:KLV) ) is now available.

Klevo Rewards Limited has entered into a strategic partnership with global digital asset platform Bybit to develop and launch KLV Coin (KLVAUD), an Australian dollar-backed stablecoin that will function as both a store of value and a rewards instrument. Issued by Fly Wallet and fully backed by AUD reserves held with an Authorised Deposit-taking Institution, KLVAUD will be pegged 1:1 to the Australian dollar and integrated into a Mastercard-linked payments ecosystem.

Users will be able to acquire KLVAUD by purchasing it via supported platforms or earning it through everyday spending with a new co-branded Bybit KLV Mastercard, which will convert digital assets to fiat in real time and provide card-linked cashback and loyalty rewards. Unlike traditional loyalty schemes, KLVAUD can be spent anywhere Mastercard is accepted, creating a closed-to-open loop model that encourages repeat usage and broader merchant participation.

Bybit will act as a global distribution partner, supporting custody, trading, onboarding and funding reserves as part of the Mastercard collateral to drive international retail and institutional adoption. The partners plan a coordinated global marketing rollout with a minimum annual budget of A$500,000 to boost user acquisition, merchant engagement and rewards-led promotions.

Strategically, the initiative is designed to establish KLVAUD as a combined payment and rewards currency while opening multiple monetisation streams across payments, digital assets and incentives. The move positions Klevo as an emerging leader in embedded finance and digital rewards innovation, potentially increasing transaction frequency, customer retention and overall platform engagement for both consumers and merchants.

More about My Rewards International Limited

Klevo Rewards Limited, listed on the ASX under ticker KLV, operates in the digital rewards and payments industry through its subsidiary Fly Wallet Pty Ltd. The company focuses on embedding rewards into everyday transactions by linking digital assets, loyalty programs and payment cards, targeting both retail consumers and merchants globally through strategic partnerships.

Average Trading Volume: 2,662,484

Technical Sentiment Signal: Strong Sell

For a thorough assessment of KLV stock, go to TipRanks’ Stock Analysis page.