Singapore's first homegrown bike-sharing firm oBike partnered with Southeast Asia's leading ride-hailing platform Grab for a series of projects that will encourage the advancement of urban cycling amongst Singapore commuters.
Under the deal, the two transport tech companies will work closely together for joint initiatives that are designed to improve the on-demand transport infrastructure in Singapore.
In a series of co-branded initiatives one of which includes Grab's branding on oBike bicycles, the two firms make it their agenda to promote bike-riding as an alternative first- and last-mile commute across the city-state.
In a statement, oBike said these joint efforts with Uber will make urban cycling more convenient and accessible for commuters.
As part of the partnership, oBike will integrate Grab's mobile wallet GrabPay into its own mobile application, offering bike-riders an additional secure cashless payment option via the GrabPay wallet. oBike users will also be able to earn GrabReward points when they pay for their bike rides using GrabPay in the coming months.
"We are excited to enhance the oBike user experience by partnering with Grab - the leading on-demand transportation and mobile payments platform in Southeast Asia. I believe that this partnership, between two market leaders, is a natural extension of our goal to enhance the bike-sharing experience for commuters and strengthen our position as Singapore's first bike-sharing operator," oBike Singapore General MAnager Tim Phang said.
Just recently, oBike commenced the inaugural token sale of oCoin, a new cryptocurrency based on the Ethereum protocol. Institutional investors were given the chance to take a slice of the four billion oCoins made available for sale.
Investors of oCoins can use their virtual currency to purchase online content on TRON's platform. Meanwhile, oBike users will be able to use these coins to pay for their rides and to top up their oBike wallets.