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- South Korean e-commerce business Paycoin partners with Bitcoin blockchain application company to create crypto payments for customers
- Transactions efficiency and speed to increase through this partnership because of easier and simpler modes of holding and transfers
- Customers and merchants now have a more integrated platform of cryptocurrency transactions
Businesses have to evolve with the interests of the customers. If the people show a drifting enthusiasm for cryptocurrency, then adding crypto transactions in their existing payment mechanism is being adopted by many e-commerce platforms. South Korea’s e-commerce forum, Paycoin, is also performing a partnership with Stacks to support cryptocurrency transactions for its clients. South Korea has had an upward growth and acceptance rate for cryptocurrency and looks like its going to grow in the future as well.
South Koreans can now use crypto for e-commerce transactions
The Korean e-commerce platform, Paycoin, will allow Stacks (STX) by offering Bitcoin interest returns on the transactions. The recent alliance redfines South Korea’s e-commerce business. It shall allow the merchants associated with Paycoin to transact in cryptocurrency, especially STX.
The Stacks Foundation builds applications running on the Bitcoin blockchain system. This includes companies like KFC, Domino’s, BBQ Chicken and 7-eleven amongst many others to accept STX or BTC from their customers.
Stacks announced that people can hold crypto in STX while they earn returns in Bitcoin, making the platform all the more attractive for its customers. This will allow cryptocurrency payments and transactions taking place on a daily basis by South Koreans on the Paycoin app.This not only adds value to the Stacks’ cryptocurrency but also gives users the opportunity to yield more Bitcoin earnings through the Paycoin application. Hence, incentivizing customers to join the Paycoin scheme and improving South Korea’s standing on the global crypto index.
Smoother digital currency transactional process through Paycoin
As the Paycoin platform allows regular transactions, it makes a hindrance-free process for the customers to indulge in cryptocurrency and -ecommerce services as well. Blockchain technology has always been technologically advanced and needs a great deal of understanding.
However, Paycoins plans to eradicate that complexity. A franchise of Danal Fintech, Paycoin is set to ease up the method of payments.
The Korean crypto market has been successful so far because of high regulation. Paycoin and Stacks look forward to developing the situation more and increase the efficiency of transactions for the people of South Korea.
Holding crypto in digital wallets will become simple after the project’s implementation. Not only holding, but the partnership also allows more credibility and usability of Stacks’ cryptocurrency.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
