Stacks partnering with e-commerce protocol Paycoin and offering STX transactions
Stacks (STX) and Paycoin are offering bitcoin returns on e-commerce transactions within South Korea.
Stacks is collaborating with South Korean e-commerce protocol Paycoin to support transactions with its native STX token.
According to the announcement, The integration will reportedly allow STX and Bitcoin as methods of payment. There are 1 million users of the Paycoin application and approximately 70,000 businesses that accept this cryptocurrency.
The release said, user can hold STX and collect returns in Bitcoin within the application. It will encourage users to transact in STX in order to gain rewards in digital currency to continue spending in the app.
The partnership will allow businesses and consumers to use cryptocurrency every day, reads the blog published by Paycoin. All transactions will take place within the Paycoin application. This compartmentalized process allows for greater ease of digital currency transactions, which for some has hindered participation in blockchain technologies.
Paycoin is a blockchain payment provider and a subsidiary of Danal Fintech, a South Korean company specializing in mobile commerce solutions. The payment provider company aims to high-efficiency transactions for businesses and consumers.