South Korean payment company Danal Fintech has announced that it is joining the ICON blockchain ecosystem, according to a press release shared with Coin Rivet.
Danal will integrate ICON’s native token ICX into Paycoin, its global payments and remittance app that has more than 750,000 customers.
This will allow those customers to pay in ICX at any of Danal’s 60,000 merchant partners including popular fast-food restaurants 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.
Let's welcome them by clapping our hands!
Danal P-Rep team is now boarding on our ecosystem. Actually Danal is the first major payment company in Korea to accept crypto and they will integrate ICX with their payment application! https://t.co/x2gf2KHiZV#ICX #ICON
— xand3r.eth 👑 (@xand3r_eth) November 11, 2020
“Now with Paycoin, it’s easier than ever for people to buy and spend their ICX at thousands of Danal’s merchant partners.”
Ted Hwang, CEO of Danal Fintech, added: Through this partnership between the two projects, we expect to bring virtual assets one step closer to our daily life.”
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.
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.
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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.