UnionPay Partners With Danal To Launch Cryptocurrency-Supporting Digital Card
UnionPay Partners With Danal To Launch Cryptocurrency-Supporting Digital Card
November 6, 2020
UnionPay Partners With Danal To Launch Cryptocurrency-Supporting Digital Card
UnionPay Partners With Danal To Launch Cryptocurrency-Supporting Digital Card
November 6, 2020

UnionPay, the major financial services corporation of China, has partnered with the South Korean payment provider Danal to launch a cryptocurrency-supporting digital card.

It has been reported that Danal’s crypto wallet PayCoin and its crypto token of the same name will be the interface for the new, prepaid mobile card.

However, Paycoin has indicated that users will be able to use both the card and Paycoin to pay for goods and services at over 30 million UnionPay merchants across 179 countries and regions. 

Danal’s PayCoin is a blockchain-based asset that has been in circulation since 2019. It has a reported 760,000 registered users, with Gdac, Upbit, Huobi Korea, Liquid, and Coinone as some of the more prominent exchanges listing it. 

The report said that for now, PayCoin’s largest user base is in South Korea, although the company has its sights on global outreach.

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Park Sang Man, the CEO of Danal, highlighted the upcoming card’s benefits for foreign exchange and payments overseas. 

Thus, the UnionPay-Danal card will support top-ups and payments in both fiat currency and crypto.

Source: Cointelegraph


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.