STK Partners with MakerDAO to offer instant cryptocurrency transactions with Dai Stablecoin
May 15, 2018, 12:30 ET
GI, Gibraltar, May 15, 2018 /PRNewswire/ - STK Global Payments announced a new partnership with Maker today, to integrate the Dai Stablecoin into the STK platform, providing the first cryptocurrency payments platform with stablecoin accessibility. STK will allow users to transact with Dai tokens through the STACK wallet at more than 37 million merchants worldwide.
As cryptocurrencies continue to gain significant traction around the world as a viable alternative to traditional finance, the demand for stability becomes an essential exercise to support mass adoption. Stablecoins, created to address the volatility of the cryptocurrency market, are designed to maintain a stable value, independent of the swings of altcoins, BTC or ETH. This makes them a more viable option for consumers looking for a reliable store of value, or medium of ongoing exchange. They share the same advantages as other cryptocurrencies - decentralization and global accessibility without the risk associated with other altcoins.
Maker, a decentralized autonomous organization on the Ethereum blockchain, has created the Dai token — a stable currency that is pegged against the U.S. Dollar. STK will offer consumers the ability to access and transact with Dai tokens for everyday transactions at point-of-sale locations both in-store and online through the STACK wallet. STACK is a smarter way to manage your money, fee-free and straight from your smartphone, currently in a Production Pilot and scheduled to launch later this year.
"We are very excited to work with STK, as this newest launch is making significant strides towards better user experiences and mainstream adoption," said Rune Christensen, CEO of Maker. "By leveraging Dai and bringing crypto to modern interfaces, starting with the smartphone, users will be able to transact with their cryptocurrencies at point of sale, enabling everyday transactions and financial services. We're proud to be working together to drive the modern financial revolution."
"STK was created to provide a seamless solution to instant cryptocurrency payments at point of sale," said Miro Pavletic, CEO and Co-Founder of STACK. "Adding the stability of the Dai token allows members to use cryptocurrency as easily and reliably as you would your debit card or cash."
About STK Global Payments
STK Global Payments is the cryptocurrency technology solution which enables real-time cryptocurrency payments at points of sale, and the issuer of the STK token. The STK token was designed to allow cryptocurrency to be used instantly at retail for seamless integration into everyday transactions and financial services. The STK token will be implemented on the public Ethereum blockchain as an ERC20 token. STK is part of a global solution to facilitate borderless transactions through a smart contract which facilitates a real-time exchange of cryptocurrency into fiat at the POS.
For more information on the STK token, visit www.stktoken.com.
SOURCE STK Global Payments
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