Major financial services corporation China UnionPay, an analog to card providers like Visa and Mastercard, has partnered with the South Korean payment provider Danal to launch a cryptocurrency-supporting digital card.<\/p>\n\n\n\n
Danal\u2019s crypto wallet Paycoin and its crypto token of the same name will be the interface for the new, prepaid mobile card. 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. <\/p>\n\n\n\n
Danal\u2019s 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. For now, PayCoin\u2019s largest user base is in South Korea, although the company has its sights on global outreach.<\/p>\n\n\n\n
In a statement<\/a> to South China Morning Post, Danal CEO Park Sang Man highlighted the forthcoming card\u2019s benefits for foreign exchange and payments overseas. The UnionPay-Danal card will support top-ups and payments in both fiat currency and crypto.<\/p>\n\n\n\n News of the new UnionPay card comes despite China\u2019s much-advertised roadmap for a central bank-backed digital currency<\/a>, and alternately ambivalent<\/a> or hostile<\/a> stance toward private cryptocurrencies.<\/p>","protected":false},"excerpt":{"rendered":" Major financial services corporation China UnionPay, an analog to card providers like Visa and Mastercard, has partnered with the South Korean payment provider Danal to launch a cryptocurrency-supporting digital card. Danal\u2019s crypto wallet Paycoin and its crypto token of the same name will be the interface for the new, prepaid mobile card. Paycoin has indicated …<\/p>\n