Canada’s online trading and barter platform, Bunz, has recently announced its plans of venturing into the digital currency market. According to The Globe and Mail, the company has announced its new cryptocurrency ‘Bunz Trading Zone (BTZ)’ pronounced as ‘bits’ and will be made available to its huge customer pool of 200,000 members starting April 9.

The company decided to step-in the latest digital currency craze in a bid to provide its customers with better ‘cash alternatives’. Bunz was formed back in 2013, as a secret group on Facebook that allowed trading items between peers. Till now users have been trading millions of items on its platform which remains to be completely cashless. Bunz said that its barter system has helped improve connectivity within the global community.

While commenting on these new crypto plans, Bunz Trading Zone CEO Sascha Mojtahedi in a press release, said: “Bunz’s fundamental goal is to build community that promotes a sustainable future. Part of making the world more sustainable economically means the decentralization of social networks and marketplaces, making way for stronger local communities. New technologies like cryptocurrency are making that possible.”

He further added: “BTZ is an extension of the Bunz bartering revolution. We see a future where large institutions will be replaced with decentralized systems that are owned by the people who use them, instead of the people that built them.”

During the announcement, the company said that BTZ will offer its users a more “democratic” option to make barter trades. As on April 9, 2018, new and existing users will be receiving 1000 BTZ tokens, however, the supply is limited. The BTZ tokens can also be redeemed for different goods and services on the Bunz platform.

On its official website, the team explained: “Yes. Bunz is — and will always be — a place where people trade items and services. As Bunz evolves we want to make sure we remain true to our core values of 1) building stronger communities and 2) making city living easier. BTZ will help us achieve both and opens up a world of opportunities for Bunz in the future.”