South Korea-based crypto payments company Paycoin (PCI) has partnered with Singapore-based crypto payment gateway TripleA, kickstarting Paycoin’s expansion into global crypto payments.
Paycoin is already servicing more than 150,000 merchants in Korea, for a total of more than three million users.
TripleA has been on a disruptive partnership expansion spree lately, and this further solidifies its position as a trusted crypto payment gateway.
The partnership is aimed at creating a new blockchain-based crypto payments ecosystem, with the first step in this direction being to enable all Paycoin users to use PCI to pay merchants in TripleA’s platform.
The issuer of PCI – Payprotocol AG – will work with its new partner, as well as with Singaporean governmental bodies, to make sure everything is in accordance with regulations. The same goes for working global financial regulators and ensuring that all anti-money laundering (AML) laws are being observed.
Officials from the company have reportedly confirmed that AML will be a major focus for the Paycoin’s global endeavors.
Singaporeans are very crypto-friendly. This is especially true for the younger generations, with which investing in cryptocurrencies is practically the norm.
Operators have also had success with launching in the city-state, and even its central bank is keen on promoting digital assets.
This makes Singapore a natural choice as a starting point for Paycoin’s plans to establish a global payments system that’s similar to the one it has in its home country.
Furthermore, TripleA is already a well-established crypto payment gateway, and has been providing its services since 2017, earning the trust of companies such as Charles & Keith and even Razer.
Its white label crypto payments products have the capacity to enable a wide variety of businesses to increase their exposure to crypto without also exposing themselves to volatility risks.
This sets the stage for a well-balanced and sustainable partnership that should pave the way for a new crypto payments system to be developed and successful.
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