Klevo Rewards Accelerates Growth with $2 Million Mastercard Incentive and Stablecoin Revenue

Mastercard Incentive and Stablecoin Trial Drive Momentum

Klevo Rewards Limited (ASX:KLV) has leveraged its Mastercard-powered platform to secure a $2 million incentive from Mastercard after hitting strategic milestones ahead of schedule. This latest reward, comprising $1.7 million in cash and $301,000 in service credits, builds on a $550,031 incentive received earlier in February 2026 and signals growing transaction volumes across Klevo’s card programs.

Adding to this momentum, Klevo successfully completed a trial of its Australian dollar-backed stablecoin in partnership with Bybit, generating approximately US$1.22 million in revenue during the trial period. This initiative is central to Klevo’s vision of integrating rewards, payments, and digital assets on a unified platform, allowing customers to earn and spend value seamlessly through a co-branded Mastercard.

Regulatory Expansion and Strategic Acquisitions

The quarter also saw Klevo broaden its regulatory reach by completing the acquisition of Just Ask Solar Pty Ltd, holder of an Australian Credit Licence (ACL 483627). This move provides a pathway into consumer credit products including card, buy-now-pay-later, and crypto-linked credit offerings, supporting Klevo's digital-asset and lending ambitions. The acquisition was funded with $150,000 in cash from working capital, making Just Ask Solar a wholly owned subsidiary.

Further regulatory expansion is underway with proposed acquisitions of ASFIN Funds Management Pty Ltd and Point Capital Group Pty Ltd, both holding Australian Financial Services Licences (AFSLs). These transactions remain subject to due diligence, regulatory approvals, and shareholder consent, but collectively they promise to extend Klevo’s distribution capabilities and licensing base.

Strengthening Leadership and Corporate Governance

Klevo has bolstered its executive team with key appointments to navigate its next growth phase. Bakous Makari joined as Executive Director and CFO, while Ramanathan Karuppiah took on the role of Chief Compliance Officer and Responsible Manager for Fly Wallet. Andrew Shi was appointed Executive Director and Chief Investment Officer to spearhead strategic growth and capital allocation. These moves align with Klevo’s objective to build a governance structure fit for its expanding payments, rewards, and digital-asset ecosystem.

Financial Performance and Capital Management

Financially, Klevo’s receipts from customers rocketed by 351.9% year-on-year to $6.593 million in the June quarter, reflecting accelerating adoption of its offerings. Net cash generated from operating activities rose sharply to $2.079 million from just $89,000 in the prior comparable period, while cash and cash equivalents climbed to $4.317 million.

The company maintains a strong liquidity position with total available funding of $19.3 million, including $15 million in unused financing facilities. Importantly, Klevo has adhered closely to its prospectus use of funds, fully allocating $2.5 million to debt reduction and $818,813 to working capital and administration costs.

Post-quarter, Klevo announced a proposed 10:1 consolidation of its issued capital, a move designed to streamline its capital structure. Shareholder approval will be sought at an upcoming Extraordinary General Meeting.