Crypto-Supporting Digital Cards to be Launched Soon in China and Korea
UnionPay, an analogue for Visa and Mastercard service providers, has partnered with Danal, a Korean payment service provider to introduce a digital card that supports cryptocurrency. Paycoin, crypto wallet from Danal and the crypto token will be used with the same name for new prepaid mobile cards. As identified by Paycoin, users will be able to use the card along with Paycoin for transactions at more than 30 million merchants of UnionPay in 179 countries and regions.
The prepaid mobile card will be accessible via Danal’s digital asset wallet Paycoin https://t.co/UXi2BHnQmf
— Cointelegraph (@Cointelegraph) November 4, 2020
PayCoin from Danal is a blockchain asset that has been circulating since 2019 with 760,000 registered users. Gdac, Liquid, Upbit, Coinone, and Huobi Korea are some of the renowned exchanges associated with PayCoin. Although the firm has sights on a global scale, South Korea is serving as the largest user base for PayCoin.
CEO of Danal, Park Sang Man, identified the benefits of the digital cads for cryptocurrency for international payments and foreign exchange during an interview with South China Morning Post. the UnionPay-Danal card will support fiat as well as crypto payments and top-ups too.
Read more about digital currencies: Digital Currency – Replacing Fiat Money in the Modern World