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CoinPayments

Founded in: 2013

Headquarters in: London

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CoinPayments is a digital currency payment solution allowing merchants to accept Bitcoin and over 1860+ altcoins in their store through easy to use plugins, APIs and POS interfaces.
With nearly three million user accounts and merchants across 200+ countries, CoinPayments.net is the most comprehensive multi-cryptocurrency platform in the world.

Payment Services

The CoinPayments gateway leads the crypto payment industry by being the first and largest crypto payment processor and is available on all major e-commerce platforms in the world including WooCommerce, Shopify, Magento, Prestashop and Opencart.

CoinPayments also has an asset conversion tool allowing merchants to quickly and efficiently convert their digital assets within their digital wallet without having to transfer to exchanges. Users can take advantage of CoinPayments global crypto payment gateway which is made easy and accessible for everyone — whether they’re a business owner or simply a crypto user. CoinPayments offers an industry-low transaction fee of only 0.5%

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CoinPayments

Industry-low processing fees
Over 120 cryptocurrencies
Absence of chargebacks when they accept crypto payments
All transactions are instant and borderless

CoinPayments

Fees

Processing Fee

5%

CoinPayments

Features

Reduced fraud risk with no chargebacks

Fiat conversion options

Works with all well-known e-Commerce platforms

Supports GAP600 to perform instant crypto payments

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South Korean CBDC – 7 South Korean Banks to Join Issuing The Digital Currency Since cryptocurrencies arrived on the financial scene and changed how people transact and transfer money, central banks have become more interested in developing their own virtual payment systems. After Russia, China, Nigeria, India, and Jamaica, South Korea is taking a major step toward introducing its own Central Bank Digital Currency in an upcoming pilot program involving the public and some major banks. The initiative aims to test the feasibility of a digital currency within the existing financial system, enabling a limited number of citizens to transact with CBDC at selected merchants and Points of Sale. This move aligns with the global trend of central banks exploring digital currencies to enhance payment efficiency, reduce transaction costs, and modernize the financial landscape. South Korea CBDC Pilot Program Bank of Korea (BOK), in collaboration with financial regulators, announced an initiative to test the rolling out of CBDC involving seven major banks and 100,000 participants. The pilot program “Project Hangang” is scheduled to run from April to June 2025, focusing on testing deposit tokens issued by banks and backed by the CBDC. These banks include KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank, NH NongHyup Bank, Industrial Bank of Korea (IBK), and Busan Bank. These tokens will be used for transactions in both online and offline retail environments, allowing the government and financial institutions to evaluate their effectiveness. Users and Merchants Participation The BOK is expected to announce the project by the end of March, asking 100,000 South Koreans to participate in the pilot and convert their traditional bank deposits into digital tokens for payments. Individuals will be limited to a maximum holding of 1 million WON (approximately $687) and a total transaction cap of 5 million WON during the trial’s duration. Various merchants, including convenience stores, supermarkets, coffee shops, and online platforms, will accept these tokens as payment. Notable participants include 7-Eleven, Hanaro Mart, Ediya Coffee, Silla University, and Hyundai Home Shopping. This will help assess the practicality and usability of the CBDC across different retail settings. Global Adoption of CBDC The South Korean CBDC initiative is part of a broader global trend, with many countries exploring digital currencies to modernize their financial systems. The Bank for International Settlements (BIS) has been actively promoting CBDC projects worldwide, with major economies such as China, the European Union, and the United States conducting their own trials. China’s digital Yuan e-CNY is already in an advanced phase, with widespread adoption in various sectors. The European Central Bank is also working on a digital Euro, while the US Federal Reserve is researching the potential implications of a digital Dollar. These initiatives aim to improve payment efficiency, enhance financial inclusion, and strengthen monetary policy frameworks. Conclusion South Korea’s CBDC pilot marks a significant step toward digital financial transformation. By involving the public, key banking institutions, and merchants, the trial will offer critical data on the viability of digital currencies. As more countries explore CBDCs, these findings could influence future implementations worldwide, paving the way for a more efficient payment system.

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