10 July 2025
Brinc Launches Web3 Accelerator with Octopus, XDC & IDA to Transform Hong Kong’s Loyalty and Payment Systems
HONG KONG – July 10, 2025 – Brinc, a leading global venture accelerator, today announced its onboarding of a groundbreaking initiative aimed at modernizing Hong Kong’s retail loyalty and payment landscape, based on by Octopus’ long-standing loyalty program.
The program is backed by Octopus, powered by XDC Network as its Web3 infrastructure partner, and supported by the IDA, a premier Hong Kong-based digital asset technology company that empowers businesses to integrate Web2 and Web3 seamlessly, as a strategic ecosystem enabler. Together, the collaboration is set to align Hong Kong’s fintech capabilities with the future-ready demands of the digital and decentralized global economy.
Learn more about the program here
The program officially launches on September 8, 2025, with applications opening on July 10, 2025. The program is open to applications from startups that can provide innovative solutions to empower merchants, streamline rewards, and unlock new growth opportunities for SMEs. Successful applicants will receive an opportunity to collaborate directly with pioneers of the Hong Kong Web 3, and run a proof of concept with a leading enterprise-focused blockchain.
Using Octopus’ extensive infrastructure as use case for ideation – encompassing over 190,000 acceptance points in Hong Kong and 3 million active monthly users – the initiative seeks to unlock new levels of merchant empowerment, consumer engagement, and cross-border innovation, reinforcing Hong Kong’s leadership in financial technology.
Reimagining Loyalty for the Web3 Economy
At the core of this program is a radical rethinking of retail loyalty. Traditional reward systems will be transformed into agile, engaging, and transparent platforms designed to meet the expectations of today’s digitally savvy consumers and businesses. IDA will provide strategic guidance on compliance, scalability, and ecosystem integration to program participants to help ensure the solution is future-ready. Additionally, program participants will have the opportunity to receive investment from XDC.
The integration of XDC’s highly scalable, enterprise-grade blockchain technology enables new levels of transparency, security, and interoperability across loyalty ecosystems.
Key innovations include:
Streamlined, real-time reward redemption to boost SMEs’ cash flow
Dynamic loyalty models that reflect evolving consumer behavior
Transparent, trackable reward systems for consumers via the XDC Network
Simplified user experiences across loyalty and rewards touchpoints
Empowering SMEs through Cost-Efficient, Integrated Digital Tools
This initiative directly addresses the pain points faced by small and medium-sized enterprises (SMEs) in the current retail environment. By lowering the financial and technical barriers to entry, the program will enable businesses to compete more effectively in an increasingly digital-first economy.
With XDC’s low-cost, high-speed transaction infrastructure, SMEs gain access to decentralized tools that are both cost-effective and user-friendly. Coupled with IDA’s strategic guidance on a stablecoin solution, this will ensure the solution is adaptable to evolving needs.
Key benefits for SMEs include:
Reduced transaction and onboarding costs
Integrated marketing solutions powered by data and omnichannel capabilities
Seamless digital onboarding with minimized technical overhead
Future-Proofing Loyalty Program with Web3 Integration
This program explores solutions to transform loyalty program powered by Web3 technologies.
XDC’s hybrid blockchain architecture enables compliant, enterprise-level tokenization and cross-border interoperability, directly supporting the program’s strategic goals.
“Hong Kong’s Web3 ecosystem will be a launchpad for bold innovation and drive the next wave of fintech innovation,” said Manav Gupta, CEO & Founder, Brinc. “Startups in this program will get a rare chance to test their ideas with the incredible reach of Octopus, a trusted industry leader, through real-world POCs. By working together with all our partners, we’re excited to unlock creative solutions that align incentives and deliver new value for everyone involved.”
Additionally, Ritesh Kakkad, co-founder of XDC Network, stated, “We’re excited to work with Brinc, IDA, and Octopus on this Hong Kong stablecoin initiative. Blockchain is transforming the way we pay, store, and transfer money, making transactions faster, cheaper, and truly borderless. This is the future of finance, and we’re just getting started with the XDC Network.”
Sean Lee, Co-Founder of IDA, added, “We are thrilled about this stablecoin accelerator program, which fosters Web3 innovation. By combining IDA’s stablecoin expertise helps Hong Kong SMEs connect traditional Web2 rewards with the Web3 stablecoin ecosystem. With the Hong Kong Stablecoins Ordinance taking effect on August 1, we are ready to drive Hong Kong’s stablecoin development.”
Strategic focus areas include:
Infrastructure upgrades for real-time, compliant tokenized payment experiences
Attraction of crypto-native consumers and introduction of new cross-border functionalities
Expansion into diversified revenue streams beyond traditional payments
Creation of globally accessible tourist wallets and interoperable reward systems on the XDC Network
By combining Octopus’ trusted infrastructure, Brinc’s innovation engine, and the decentralized, interoperable capabilities of the XDC Network, this initiative aims to explore and redefine how value is created and exchanged in Hong Kong’s consumer economy, unlocking new possibilities for merchants, users, and the future of Web3 payments.
Learn more about the program here.
About Brinc (www.brinc.io)
Brinc is a leader in global venture acceleration, operating over 15 multi-disciplinary accelerator programs across seven countries. Accelerating startups focused on climate tech, CDR, food technology, blockchain technology, artificial intelligence, web3, connected hardware, robotics, and the Internet of Things (IoT), Brinc’s mission is to create a more sustainable, equitable, and inclusive future. Brinc also announced plans to raise a series of venture funds to invest in high-potential early-stage companies through accelerators and provide LPs with a dedicated innovation platform and access to Series A+ co-investment opportunities.
Brinc further supports corporations with distributed innovation strategies, sourcing of new startups and technologies, and venture capital as a service. Global corporations (Manulife, Huawei, Schneider Electric, Puma, Batelco, Merck, Omantel, Linrun Group, Zhihui Park), government organizations (Hong Kong Science Park, NEOM, MBRIF, Guangdong Soft-tech Park), tertiary institutions (HK City University, National University of Singapore), fast-growing companies (Animoca Brands, The Sandbox), and leading venture funds (Artesian, LeverVC, Tamkeen, EDB, Hatcher+) have all run programs with Brinc.
Learn more:brinc.io.
About IDA Finance Hong Kong Limited (IDA)
IDA is the premier digital asset technology company to spearhead the widespread adoption of blockchain finance and to empower businesses to seamlessly integrate between Web2 and Web3.
IDA will launch a stablecoin product which is designed to drive enhanced connectivity of digital currency for seamless commerce and payments between Hong Kong and global markets, 24/7/365. To maintain the highest level of security and stability, all circulating stablecoins will always be fully backed by at least 100% reserve assets in regulated Hong Kong based authorized institutions.
To maximize the network effect of the stablecoin project for domestic and cross-border usage, IDA is partnering with key industry players to facilitate the minting, redemption, and widespread acceptance of stablecoins as a payment and settlement digital currency.
More information can be found at idafi.xyz / LinkedIn / X
About Octopus Cards Limited (Licence Number: SVF0001)
Operating under the Stored Value Facilities Licence, Octopus Cards Limited (OCL) provides innovative offline and online Octopus payment services to meet customers’ diverse payment needs. Launched in 1997 by OCL, the Octopus system in Hong Kong is one of the world's leading and most extensively accepted contactless smartcard payment systems. Its aspiration is to bring diversity and inclusion in payment to customers of all facets of life.
Today, more than 24 million Octopus cards and products are in circulation; spanning businesses including public transport, parking, retail, self-help services, schools, and leisure facilities, and access control for residential and commercial buildings. There are more than 190,000 Octopus acceptance points in the market. Octopus’ application has been extended to online and mobile payment arenas with services including Octopus on iPhone and Apple Watch, Octopus on Samsung Pay, Octopus on Huawei Pay, Octopus App, Octopus Wallet, Octopus Mastercard and UnionPay, bringing new payment experiences to customers.
The Octopus Group exports its unique experience and technology overseas, offering consultancy services across the world. The mission of OCL is simple: Making everyday life easier. For more information about OCL, please visit www.octopus.com.hk.
About XDC
XDC Network is an enterprise-grade, open-source blockchain protocol. An EVM-compatible chain with smart contract capabilities, it is uniquely suited to revolutionize, decentralize, and liquify the trade finance industry through the tokenization of real-world assets and financial instruments.
The XDC Network is a groundbreaking blockchain with impressive speed, scalability, low fees, and military-grade security. Using XDC Network, businesses can improve their record-keeping, exchange data, and transfer assets more efficiently and more securely.
Learn more: https://xdc.org/.