FinTech creates STK token as part of a universal solution to borderless transactions and retail payments at point of sale (POS) and announces Token Generation Event
STK announced plans for a Token Generation Event (TGE) today which will run from October 25-November 3, 2017 with a pre-sale available to registered participants from October 11-24, 2017. Proceeds from the sale will support ongoing development and future implementation of the STK token with partners around the world.
Built on the Ethereum blockchain as an ERC20 token, the STK token will enable users to transact with cryptocurrency in mainstream markets and at brick-and-mortar stores without the cumbersome exchange process typical of most cryptocurrencies.
The STK token will be initially available through STACK - a digital financial services provider being launched in Canada later this year. STACK was designed to replace traditional banking with smarter solutions to personal finance.
“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 Miro Pavletic, Director of STK Global Payments. He continued:
“Cryptocurrency is an emerging and exciting market, but it’s got a high barrier to entry. Through this partnership with STACK, we’re trying to simplify the blockchain process so that you can use your STK tokens as easily as you would a debit card or cash.”
A lack of merchant acceptance of cryptocurrencies at point of sale and online means that consumers are currently required to exchange cryptocurrencies into local currency in order to make everyday purchases. And minimum confirmation times for bitcoin and ether are too long for day-to-day transactions. STK tokens will allow users to access a real-time exchange so cryptocurrency can be used for daily transactions online and in-store.
“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, and a founding team member of Ethereum. “To do this they are leading the way by implementing a cutting-edge Ethereum blockchain technique called State Channels; this technique will be become the standard for many types of cryptocurrency payments.”
STK’s website and whitepaper launched at
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 provide a method that can 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. The STK token 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.Disclaimer. This article is paid and provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company. CoinIdol shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods or services mentioned in this article.