UnionPay & South Korean Based Danal Team Up In Order To Release A Crypto Supported Digital Card
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Household names like Visa and MasterCard are payments networks that many of us use on a day-to-day basis. But a major financial services corporation, China UnionPay has just recently teamed up with the South Korean payment provider Danal in order to release a digital card that would support cryptocurrencies.
The crypto wallet that comes alongside the payments provider known as Paycoin, and its crypto token of the same name, will be the interface for the new prepaid mobile card. It has been indicated by the company that users will be able to use both the card and the token to pay for goods and services that are more than 30 million Paycoin and merchants all over the world in 179 countries and regions.
CEO of Danal, Park Sang Man recently spoke in a statement to the local outlet The South China Morning Post noting that the upcoming card has numerous benefits for foreign platforms and payments overseas. Furthermore, the prepaid mobile card will support top ups in both crypto and Fiat currency.
For those that don’t know, PayCoin is a blockchain-based asset that has been going around for over a year and it was reported that around 760,000 users were registered with many prominent exchanges listing it such as Huobi Korea. With South Korea being the biggest user base for PayCoin, it is in a comfortable position right now but it clearly has its sites on expanding further globally.