The user-owned internet is taking another step forward today thanks to Paycoin
, a Korea-based subsidiary of industry heavyweight Danal Fintech. The Stacks Foundation will be supporting a deep integration of Stacks and Stacking into Paycoin's approachable crypto-powered e-commerce application. With over one million users and 70,000 merchants already onboard, Paycoin is a rapidly growing player in the Korean market with designs on further expansion.
Initially, Paycoin will make STX one of the primary payment options for use with the well-established merchants Paycoin offers in Korea, including 7-Eleven, KFC, Domino’s Pizza, BBQ Chicken and more. STX will be one of the few payment options beside Bitcoin in the app, which currently only offers the ability to pay with Paycoin (PCI).
Shortly after the initial payment and wallet integration, users will also be able to earn additional Bitcoin (BTC) rewards on their STX holdings right in the app via Stacking. Paycoin users will then be able to spend these rewards, without ever needing to leave the app or interact with an exchange to do so. This seamless all-in-one experience streamlines a process that has prevented many potential crypto users from participating in the ecosystem. By lowering the barriers to entry and empowering users to earn BTC rewards via Stacking, the Stacks-Paycoin integration provides new ways to shop with cryptocurrency while creating a wholly new form of incentive rewards.