STK Global Payments Announces The STK Token, Providing Instant Cryptocurrency Payments At Point Of Sale – Blockchain News
STK announced plans for a Token Generation Event (TGE) 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.
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 Canadalater 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. “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 recently launched at www.stktoken.com.
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