VINU Network's Parent Company, COINUP, Signs a Contract with Shunkhlai Group, The 2nd-Largest Business Group in Mongolia

    SINGAPORE, December 28, 2022 /24-7PressRelease/ -- COINUP Co., Ltd., VINU Network's biggest partner and the owner of the premium self-laundromat brand 'Laundryzone', has announced on the 20th the signing of a contract with Mongolia's "Shunkhlai Group (Digital Concept)" and "GS25" to further develop the unmanned laundromat business across the country.

COINUP is an established leader in the self-laundry industry, owning more than 700 self-laundromats across various brands, ranging from the entry-level brand "Selfia" to more premium laundromats like "Laundryzone". Each of these stores is directly under the VINU Foundation, allowing VINU Network's direct access to the network being established through this threeway partnership.

COINUP is therefore planning to introduce the VINU Network's project, along with its K-Laundromat technology, to the industry. The VINU Network is an Ethereum-based real economy Metaverse that links online stores to offline ones in the real world, and allows anyone to easily participate, start, and operate their own stores from the comfort of their homes. This will be realized through the application of blockchain and NFT technology, which the VINU Network team has been continuously building on, and which is crucial for the transparency, safety, and convenience for users.

COINUP first entered the Mongolian market back in 2019, and has since opened 16 stores and accumulated extensive knowhow and technology. Shunkhlai Group (Digital Concept), is the second largest business group in Mongolia and has major subsidiaries in various industries, accounting for more than 70% of Mongolia's liquor and beverage market. With this contract established between then, and having GS25 hand in hand to push self-laundromats through the innovative shop-in-shop system, COINUP will continue to expand to reach its ultimate goal of opening 200 stores in Mongolia by 2023, and 500 stores by 2025.

Currently, VINU Network is preparing to be listed on the global market.

More information on VINU Network is available in its whitepaper.

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Media Contact : Deena | [email protected]

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