Paycoin (PCI) Surges 25% Amid Plans to Resume Payment Services in Korea

On August 29, Paycoin, through its X handle, announced that it will relaunch its native token PCI payment services in South Korea. Remarkably, the move marks a significant milestone for Paycoin as it looks to reintegrate its token into everyday transactions.

Following the announcement, PCI, the native token of Paycoin, reacted positively. The cryptocurrency, which has steadied below $0.095 since the beginning of August, regained bullish momentum, rallying by over 25% in the past 24 hours.

According to CoinGecko data, PCI surged an impressive 49% to an intraday high of $0.128 before relinquishing some of its gains. Meanwhile, the recent price spike highlights investors’ enthusiasm for securing the asset before the PCI token payment becomes available in September.

At the time of writing, PCI is trading at $0.1056, maintaining just 31.5% of the entire profits.

PCI Payment to Kickstart in September

As mentioned earlier, PCI payment integration is scheduled to commence in September. Remarkably, the report shows that a diverse range of South Korea’s renowned merchants will accept the token. For context, the prominent entities include CU, Dalkomm, Hoottown, and Pizza Hut.

Notably, the inclusion of CU, one of Korea’s largest convenience store chains with over 18,000 locations, is a game-changer. Operated by BGF Retail, CU rebranded from FamilyMart in 2012 to establish a “Korean-style” retail identity, free from franchise royalties.

Recent reports indicate that CU achieved an operating profit of over 108.8 billion KRW, implying that its adoption of PCI could significantly enhance the token’s utility. Meanwhile, with September just a few days away, Paycoin did not specify the exact date the payment would commence.

Expanding Payment Networks

Notably, Paycoin’s expansion with South Korea’s prominent merchants is just the beginning. The company plans to continuously expand its payment network, signaling a promising future for cryptocurrency adoption.

With South Korea being a leader in fintech innovation, embracing this innovation could be crucial for the global crypto payment systems, as more countries and institutions will begin to adopt cryptocurrency payments.

What is Paycoin (PCI)

Paycoin (PCI) is an innovative blockchain-based payment project designed to integrate cryptocurrency into everyday transactions. It originated as an in-house initiative by South Korean payment provider Danal.

However, Paycoin has evolved into a robust ecosystem, now accepted by over 10,000 merchants in Korea, including major brands such as 7-Eleven, Domino’s Pizza, KFC, and others. The widespread adoption stems from Paycoin’s mission to deliver real-world use cases, driving user engagement and mainstream cryptocurrency acceptance.

Interestingly, its native token, PCI, is actively traded on notable exchanges like Bitget and HTX, with Bithumb leading as the most popular platform. For context, Bithumb boasts a 24-hour trading volume of $32.5 million for the PCI/KRW pair.

With a market capitalization of $109.6 million, PCI’s circulating supply stands at 1 billion tokens. Per on-chain data, its fully diluted valuation (FDV) is projected at $203 million. This is based on the assumption that the maximum supply is 1.9 billion tokens.

Furthermore, the token’s total daily trading volume recently surged to $34.6 million, representing a remarkable 3,651.10% increase, which signals heightened market interest. Meanwhile, as Paycoin expands, it continues to reshape the future of digital payments.

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