Financial news

Paycoin, a crypto payments company that has successfully introduced crypto payment services to more than three million users and 150,000 merchants in Korea. This has kickstarted its expansion into the global crypto payments market through a partnership with TripleA.

Payprotocol AG, the issuer of Paycoin (PCI) announced a partnership (MoU) with TripleA. TripleA is a licensed crypto payments company, to collaborate on building a global crypto payments ecosystem.

This partnership will commence with enabling all Paycoin users to pay with PCI to TripleA’s merchants. Payprotocol AG and TripleA will work ­closely ­with ­government ­bodies ­and­ global ­financial regulators to ensure full compliance with AML regulations.

TripleA, established in 2017, is a crypto payment company that allows businesses to pay and get paid in digital currencies, volatility free. TripleA’s roster of clients include Razer, and Charles & Keith.

Paycoin has expanded into Singapore as its first global market due to the strong crypto regulatory frameworks available in Singapore. This is because Singapore is one of the few countries that has implemented detailed regulations around crypto-based businesses. As a fully licensed digital payment token service provider in Singapore, TripleA’s partnership will enable Paycoin to build a payment system to be used globally, like it has built for the Korean market.

“Paycoin was founded as payment solution provider, Danal, aims include creating a global payment network. As a result of this partnership, we will continue to maximise the benefit of blockchain technology, and build a global payment network around Paycoin. Furthermore, we will also create a regulated and licensed environment for our partners to operate within. This ensures we won’t be used as a vehicle for illicit activities. These include activities like money laundering,” PayProtocol CEO Ryu said.

“TripleA is happy to partner up with Paycoin as its global payments provider”. Eric Barbier, CEO of TripleA shared. “This is a mutually beneficial partnership that will connect PayProtocol with merchants globally. It will also give TripleA keen insights into the Korean market.”