CBX and Reflexion Lounge (XRLO) has signed an agreement to cooperate on tokenization of XRLO’s businesses.
The XRLO token is the world’s first digital token designed for Lounging-as-a-Lifestyle (LaaL) Community. The company continues to provide excellent services to an ever-growing clientele from different parts of the world. The company is registered in the United Kingdom, and currently, it is the only business on the Erie Basin Waterfront and the only “Shisha Lounge Business” certified by Meduse in the UK.
The XRLO token will be the utility token used throughout the Reflexion Lounge franchise, for purchases of goods and services, and participating in the franchise scheme. Reflexion Lounge Franchisees and XRLO token holders will have direct royalty participation on the Reflexion Lounge and can receive monthly royalties.
Through the partnership between Reflexion Lounge and CBX, it is intended to solve the liquidity constraints in traditional franchise models and provide a gateway for more investors to invest in franchise businesses.
“I am delighted to work with Reflexion Lounge on its tokenization process. We shall use our expertise to guide through the listing process of XLRO on CBX and provide its offerings to our network throughout Asia, Europe and the Middle East” said Meng Chan Shu, CEO of CBX.
“Our partnership with CBX is a validation of our use-case. We expect that our business-model will integrate state of the art systems to ease the franchising process for young entrepreneurs and lead the way for mass adoption of cryptocurrency and blockchain within the lounging and hospitality sector“ — Faiyaz Bux, CEO Reflexion Lounge
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