Danal Fintech Joins ICON Blockchain Ecosystem

Danal Fintech, a subsidiary of Danal , a big cost firm in South Korea, has joined the ICON blockchain ecosystem. Danal accounts for half of the market share in cell billings, equal to $5.5 billion USD yearly. Danal Fintech focuses on blockchain-based cost options and launched Paycoin in 2019 as one of many first apps for utilizing digital currencies in retail funds.

Danal Fintech will combine ICON’s cryptocurrency ICX into Paycoin, its world funds, and remittance app. Paycoin’s greater than 750,000 customers may have the choice to pay in ICX at any of Danal’s 60,000 service provider companions, together with 7-Eleven, KFC, and Domino’s Pizza.

Min Kim, ICON undertaking Founder, mentioned that with PayPal’s latest announcement relating to crypto they’re seeing an acceleration within the adoption of cost apps in Asia:

“Now with Paycoin, it’s simpler than ever for individuals to purchase and spend their ICX at 1000’s of Danal’s service provider companions.”

Ted Hwang, CEO of Danal Fintech, added:

“Paycoin is without doubt one of the first digital asset apps getting used commercially in Korea and ICON is without doubt one of the largest blockchain tasks in Korea. By means of this partnership between the 2 tasks, we anticipate to carry digital belongings one step nearer to our day by day life. We are going to proceed to develop enterprise scope by way of numerous partnerships sooner or later.”

Danal Fintech will even turn into an ICON Public Consultant, or P-Rep, enjoying a key position within the ICON Community corresponding to block creation and verification, determination making on community coverage, and growth of the general ICON ecosystem. P-Reps are elected by delegation of stake by the ICON group, and assist hold the community secure with technical infrastructure help.