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Korean payment giant Danal joins ICON blockchain ecosystem

Danal Fintech is the major major fee provider in Korea to settle for cryptocurrency, with ICON’s token licensed at 60,000 merchant partners including 7-Eleven, KFC and Domino’s Pizza…

Danal Fintech, a subsidiary of Danal, indubitably one of many finest fee companies in South Korea, as of late introduced that they’re joining the ICON blockchain ecosystem, the finest decentralized community in Korea by market capitalization. Danal Fintech will mix ICON’s cryptocurrency ICX into Paycoin, its world funds and remittance app. This can also enable 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 currently asserting its plans to enhance cryptocurrencies, we’re initiating to scrutinize major acceleration in crypto adoption by fee apps and fintech companies in Asia,” acknowledged Min Kim, ICON mission Founder. “Now with Paycoin, it’s easier than ever for folks to purchase and use their ICX at hundreds of Danal’s merchant partners.”

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“Paycoin is indubitably one of many major virtual asset apps being frail commercially in Korea and ICON is indubitably one of many finest blockchain projects in Korea. By this partnership between the 2 projects, we inquire of of to ship virtual property one step closer to our each day lifestyles,” acknowledged Ted Hwang, CEO of Danal Fintech. “We are able to continue to enlarge commerce scope thru numerous partnerships in due route.”

Danal Fintech can even develop to be an ICON Public Representative, or P-Score, the title given to consensus and governance block validators on the ICON Network. P-Reps cherish Danal Fintech play key roles in the ICON Network equivalent to block creation and verification, resolution making on community policy, and growth of the final ICON ecosystem. P-Reps are elected by delegation of stake by the ICON community, and assist retain the community stable with technical infrastructure increase.

Danal Fintech is allotment of Danal Co. Ltd, indubitably one of South Korea’s finest fee companies. Danal offers integrated fee alternatives to its partners, from credit and debit cards to cell billings and extra. With bigger than 20 years in commerce, Danal accounts for half of of the market part in cell billings, such as $5.5 billion USD yearly. Danal Fintech specializes in blockchain-primarily based entirely fee alternatives, and launched Paycoin in 2019 as indubitably one of many major apps for the usage of virtual currencies in retail funds.

Danal’s Paycoin app reduces intermediaries in reward fee processes, lowers transaction charges, and speeds up settlement cycles; all in a gain and helpful fee ambiance. The app makes it easy for ICX holders to use their cryptocurrency at every online and offline shops everywhere South Korea.

Rapidly after joining as a P-Score, Danal Fintech will inaugurate the combination of ICX into the Paycoin fee utility. At its completion, ICON users will seemingly be in a local to deposit and use their ICX with the Paycoin app.

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