Danal "You Can Invest in Bitcoin with Paycoin"

Paycoin App to Launch Bitcoin Investment Service Soon

[Asia Economy Reporter Gong Byung-sun] Danal is launching a service that allows investment in Bitcoin using Paycoin.

On the 25th, Danal Fintech, the operator of Paycoin and a subsidiary of Danal, announced that it signed a memorandum of understanding (MOU) with blockchain financial solution company Vevrik on the 22nd and plans to launch a Bitcoin investment product service using Paycoin. Danal Fintech will guide the Bitcoin investment service as a platform, while Vevrik will provide the investment solution.

This service is known to be simpler than the existing cryptocurrency investment methods. Previously, users had to sign up for a cryptocurrency exchange and trade cryptocurrencies. However, with the Paycoin service, all investment procedures are completed simply by selecting a product within the related application (app).

Focus was also placed on securing reliability and stability. Paycoin stated that stable service operation is possible through Danal Fintech, Danal?the parent company of both Danal Fintech and Vevrik?and Sejong Telecom. Additionally, Pay Protocol, the issuer of Paycoin, recently obtained the Information Security Management System (ISMS) certification and completed registration as a virtual asset operator.

Going forward, Paycoin plans to prepare financial services utilizing cryptocurrencies, starting with the Bitcoin investment service. In particular, it aims to establish a ‘Crypto Bank’ where users can use financial services such as cryptocurrency deposits, loans, and investments just like using bank services with Paycoin.

Hwang Yong-taek, CEO of Danal Fintech, said, “The approval of the Bitcoin exchange-traded fund (ETF) in the United States means that cryptocurrency has been recognized as an asset that can be operated in real life,” adding, “We will strive to ensure that all users can enjoy the benefits of the cryptocurrency market through Paycoin, even without specialized knowledge of cryptocurrencies.”