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Paycoin to Integrate Chainlink Price Feeds into its Global Retail Payments Solution

We’re excited to announce that Paycoin will be integrating with Chainlink, which will set Chainlink Price Feeds as the primary oracle solution used throughout its retail payment services. Chainlink’s Price Feeds ensure that Paycoin users receive fair market exchange rates when making crypto retail payments, as well as accurate asset valuations when interacting with our upcoming in-app virtual asset based financial products and services.

Chainlink is the market-leading decentralized oracle network, providing smart contracts with the ability to communicate with data and systems outside their native blockchain. Unlike other oracle solutions that are susceptible to security risks from centralized or unproven designs, Chainlink aggregates data from multiple high-quality data sources, then delivers that data to the blockchain through a decentralized network of secure oracle nodes. This ensures users have access to highly available and manipulation resistant data feeds, hence why Chainlink’s Price Feeds currently secure over $4B in USD value for leading DeFi projects.

Launched in April 2019, Paycoin is a blockchain-based virtual asset payment project on Hyperledger Fabric initiated by Danal, a Payment Gateway based in South Korea. Within one year of operation, Paycoin has acquired more than 750,000 users in Korea and has secured partnerships with major franchises like KFC, Domino’s Pizza, 7-Eleven, and more.

Chainlink’s price feed oracles will serve as exchange rates that allow Paycoin to accurately and securely convert crypto assets to fiat in-app when users make retail payments. This integration expands Paycoin’s available payment currencies to crypto assets such as Bitcoin, Ethereum, and more.

Moving forward, Paycoin intends to offer DeFi products and other virtual assets based financial services that are directly accessible in its mobile platform. Chainlink’s price feeds will be used to provide valuations to crypto assets, enabling Payco...

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