Danal Fintech joins the ICON Blockchain Ecosystem

Danal Fintech, a subsidiary of Danal, said to be one of the largest payment companies in South Korea,

announced that they are joining the ICON blockchain ecosystem, a decentralised network in Korea.

Danal Fintech will integrate ICON’s cryptocurrency ICX into Paycoin, its global payments and remittance app.

This will allow Paycoin’s 750,000+ users to pay in ICX at any of Danal’s 60,000 merchant partners,

including 7-Eleven, KFC, and Domino’s Pizza.

“With PayPal recently announcing its plans to support cryptocurrencies,

we’re starting to see major acceleration in crypto adoption by payment apps and fintech companies in Asia,”

said Min Kim, ICON project Founder.

“Now with Paycoin, it’s easier than ever for people to buy and spend their ICX at thousands of

Danal’s merchant partners.”

“Paycoin is one of the first virtual asset apps being used commercially in Korea and ICON is one of the largest blockchain projects in Korea.

Through this partnership between the two projects, we expect to bring virtual assets one step closer to our daily life,” said Ted Hwang,

CEO of Danal Fintech. “We will continue to expand business scope through various partnerships in the future.”

Danal Fintech will also become an ICON Public Representative, or P-Rep, the title given to consensus and governance block validators on the ICON Network.

Danal Fintech focuses on blockchain-based payment solutions.

It launched Paycoin in 2019 as one of the first apps for using virtual currencies in retail payments.

The Paycoin app reduces intermediaries in existing payment processes, lowers transaction fees, and speeds up settlement cycles.

The app makes it easy for ICX holders to spend their cryptocurrency at both online and offline retailers all over South Korea.

Shortly after joining as a P-Rep, Danal Fintech will start the integration of ICX into the Paycoin payment application.

At its completion, ICON users will be able to deposit and spend their ICX with the Paycoin app.

By Edil Corneille

Edil is a Market Analyst at IBS Intelligence.

Source: ibsintelligence.com

Comments

Cryptocurrencies Adding to the Safety and Security in the UK Gambling Industry

These are exciting times for the UK gambling industry. The impact of internet technology is now being felt with online gambling now controlling the industry. The adoption of cutting-edge technology is reasonable for the boom in the industry. From live casinos, mobile apps to artificial intelligence, incredible trends continue shaping the gambling industry. However, it is the rise of cryptocurrency casinos that seeks to redefine UK gambling. Many operators now include crypto coins such as bitcoin, Ethereum and Litecoin as part of their banking methods. Others offer exclusive bitcoin payments and promotions based on digital tokens. This revolutionary trend has a huge impact due to enhanced safety and security on these platforms. Players looking for peace of mind when playing online now opt to use cryptocurrencies. This post looks at how cryptos guarantee the safety and security of players at online casinos. How Cryptocurrency Gambling Works There’s a lot of talk ab...

Coinbase to Require Recipient Information for Crypto Transfers From Users in Canada, Singapore and Japan

Customers in those countries who send crypto outside their Coinbase accounts must provide recipients’ names, addresses and in some cases, additional information, as of early April. Cryptocurrency exchange Coinbase Global (COIN) will soon require its customers in Canada, Japan and Singapore who send cryptocurrency to another financial institution or exchange to provide the name, address and in the case of Japan, the destination wallet of the recipient. Coinbase has been sending notices to its customers in those countries that the changes will take effect in early April in order to comply with local travel rules in those places. Coinbase didn't immediately respond to requests for additional comment on the moves, but confirmed that they were taking place. The move does not seem to be going over well with Coinbase customers in those countries, who value the anonymity of transactions using cryptocurrency. According to a FAQ provided by Coinbase , for Canadian users, ...

Quomodocunquize

Definition: " To make money in any way possible . ” Example: Rather than quomodocunquizing, invest your money wisely . Please, please, please use a hardware cold wallet like Ledger . It's a cold wallet , cold = not exposed to internet = only your hardware device . ... Use Ledger as cold storage . Too many people spend money they earned..to buy things they don't want..to impress people that they don't like. --Will Rogers A wise person should have money in their head, but not in their heart. --Jonathan Swift Wealth consists not in having great possessions, but in having few wants. --Epictetus Money often costs too much. --Ralph Waldo Emerson Everyday is a bank account, and time is our currency. No one is rich, no one is poor, we've got 24 hours each. --Christopher...

Crypto Ethone

Search This Blog