{"id":94121,"date":"2017-10-06T09:00:38","date_gmt":"2017-10-06T13:00:38","guid":{"rendered":"https:\/\/techvibes.com\/?p=94121"},"modified":"2017-10-06T10:11:49","modified_gmt":"2017-10-06T14:11:49","slug":"stack-adding-cryptocurrency-payments-to-digital-wallet-announces-stk-token","status":"publish","type":"magazine","link":"https:\/\/brainstation.io\/magazine\/stack-adding-cryptocurrency-payments-to-digital-wallet-announces-stk-token","title":{"rendered":"Stack Adding Crypto Payments to Digital Wallet with STK Token"},"content":{"rendered":"

Stack<\/a> is\u00a0powering users to pay with cryptocurrency at any point-of-sale system through its smart digital wallet.<\/p>\n

The Toronto-based fintech company has partnered with STK Global Payments to\u00a0support the exchange of\u00a0STK tokens\u2014a blockchain-based currency\u2014through Stack’s mobile\u00a0payment options. Stack said the move makes them the first fintech company\u00a0to enable instant and contactless mobile cryptocurrency transactions.<\/p>\n

“We’re working towards a universally accessible alternative to traditional banking that allows you to store your money safely, access it instantly and transact with it anywhere, in any currency, including cryptocurrency,” said Stack CEO Miro Pavletic in a release. “The STK token will simplify the blockchain process so that you can use cryptocurrency as easily as you would a debit card or cash.”<\/p>\n

Stack is a personal finance platform that\u00a0allow users to manage their money from a smartphone app\u2014without the banking fees. Currently in private beta, Stack is expecting to launch nationally by the end of the year, followed by a U.S. expansion in early 2018. In September, Stack\u00a0announced<\/a>\u00a0a partnership with Mastercard that added a mobile tap-to-pay option to the digital wallet app.<\/p>\n

STK’s blockchain payment solution can be implemented globally, but Stack will be the first company to harness the technology.\u00a0Stack published a\u00a0white paper<\/a>\u00a0explaining the\u00a0behind-the-scenes technology and their decision to add crypto payments.<\/p>\n

With the\u00a0addition of cryptocurrency payments, Stack app users\u00a0will be able to use STK tokens for transactions at both brick-and-mortar and online stores\u2013no traditional currency exchange required.\u00a0Stack said they partnered with existing payment networks that will allow the cryptocurrency wallet to be used at 39 million merchants worldwide.<\/p>\n

“STK aims to break down the cryptocurrency usability barrier and make crypto as familiar to use as traditional payments, all with no fees and no confirmation delays,” said Ethan Wilding, co-founder of Ledger Labs. Wilding is also a founding team member of the Ethereum blockchain.<\/p>\n

“To do this they are leading the way by implementing a cutting-edge Ethereum blockchain technique called State Channels; this technique will become the standard for many types of cryptocurrency payments,” he added.<\/p>\n

The company is currently working with token-payment prototype\u00a0and said they’re on target to launch the cryptocurrency solution by the end of 2018.<\/p>\n

STK is launching a token generation event on October 25,\u00a0making the STK token available\u00a0for\u00a0purchase online<\/a>\u00a0until November 3. Each token will be sold for\u00a0$0.20 USD, and Stack is offering 550,000,000 STK tokens for sale. Money generated from the\u00a0token generation event will be directed towards the integration of STK with STACK, the operation of crypto to local currency exchange, and developing solutions for both iOS and Android devices.<\/p>\n

While Canada\u00a0will be the first\u00a0country to tap into Stack’s crypto wallet, the company said strict regulations from the\u00a0Ontario Securities Commission prohibit\u00a0the token generation event\u00a0from being open to Canadians. Waterloo-based Kik ran into the same issue<\/a>\u00a0last month when\u00a0the company launched the initial coin offering for Kin, an\u00a0Ethereum-based token.<\/p>\n","protected":false},"excerpt":{"rendered":"

Stack is\u00a0powering users to pay with cryptocurrency at any point-of-sale system through its smart digital wallet. The Toronto-based fintech company has partnered with STK Global Payments to\u00a0support the exchange of\u00a0STK tokens\u2014a blockchain-based currency\u2014through Stack’s mobile\u00a0payment options. Stack said the move makes them the first fintech company\u00a0to enable instant and contactless mobile cryptocurrency transactions. “We’re working […]<\/p>\n","protected":false},"author":76241,"featured_media":94142,"menu_order":0,"template":"","meta":{"_acf_changed":false,"footnotes":""},"categories":[13],"tags":[627,739,1307,1643,21],"magazine-region":[],"magazine-series":[],"magazine-topic":[],"class_list":["post-94121","magazine","type-magazine","status-publish","has-post-thumbnail","hentry","category-News","tag-blockchain","tag-ethereum","tag-stack","tag-stk-token","tag-toronto"],"acf":[],"_links":{"self":[{"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine\/94121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine"}],"about":[{"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/types\/magazine"}],"author":[{"embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/users\/76241"}],"version-history":[{"count":0,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine\/94121\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/media\/94142"}],"wp:attachment":[{"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/media?parent=94121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/categories?post=94121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/tags?post=94121"},{"taxonomy":"magazine-region","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine-region?post=94121"},{"taxonomy":"magazine-series","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine-series?post=94121"},{"taxonomy":"magazine-topic","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine-topic?post=94121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}