Paycoin Taps Stacks to Provide Users A Unique Crypto E-Commerce Experience & Bitcoin Yield Options
by Mitchell Cuevas on May 26, 2021
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.
“We are thrilled to be working with the Stacks network and community; it opens up huge potential for our business by enabling us to utilize the unique connection between STX and Bitcoin to bring our customers options they can’t find anywhere else. We believe leveraging Stacks and Bitcoin in these ways will truly mark a major milestone for our project as well as accelerate our global expansion.”

- CEO of Danal Fintech, Ted Hwang.
The Stacks Foundation, among other efforts related to education, research and development, and funding, plays a key role in expanding the access to and utility of STX globally. By supporting the Paycoin team to integrate Stacks, The Stacks Foundation is both helping to bring online another utility for Stacks and serving to make crypto, including STX, easier for users to understand and begin benefiting from. The Paycoin team has created a delightful experience for their users, bridging the divide of more traditional applications with the world of crypto, and the Stacks Foundation is honored to be contributing as they make crypto more accessible.
About Paycoin
Paycoin is a blockchain project that is providing a virtual asset-based payment service. As a subsidiary of “Danal” — an integrated payment solution provider — Danal Fintech provides virtual asset payment services based on Paycoin blockchain, which reduces the intermediaries in the existing payment process, enabling lower transaction fees and faster settlement cycles to merchants, and a safe and convenient payment environment to users. Paycoin is the first virtual asset that is being commercialized as payment in Korea, and we aim to lead this new payment market and drive adoption for the service.

Mitchell Cuevas leads growth and marketing efforts at Stacks Foundation. He's spent the last decade working in community-driven high-growth startups.