Fresh from the success of our recent Developer’s Competition in Seoul, we are back at it again and have secured a partnership with Coinduck, the world’s first Ethereum payment service!

About Coinduck

Based in Korea and developed by Chain Partners (the country’s leading blockchain company builder), Coinduck is on a mission to expand the possibilities of cryptopayments in everyday transactions. The service is elegantly simple: merchants, both online and offline, provide their wallet addresses and customers send the payable amount instantly calculated in Ether at a live exchange rate. The typical processing time for such transactions is five minutes, posing an inconvenience to both merchant and customer. With Coinduck’s on-chain, instant transaction technology and deep learning algorithm, a payment can be completed within five seconds. The service is compatible with all mobile wallets in Korea and all exchanges worldwide, ensuring easy access for holders of Ether.

Kyber Network will integrate its token conversion protocol with Coinduck’s service, diversifying the accepted means of payment from Ether only to all ERC-20 tokens (including KNC). This means that when a customer makes a payment in an ERC-20 token, say REQ, Kyber Network’s protocol will promptly convert the REQ into Ether at the live market exchange rate, after which Coinduck will convert the Ether into South Korean Won and send it to the merchant. All in a matter of seconds. As Kyber Network’s liquidity grows, even more cryptopayment options will become available to the public. Further, through this partnership, Kyber Network will gain access to off-line businesses, an important group of clients as blockchain adoption becomes more and more of a reality.

We are delighted to add Coinduck to our growing list of distinguished partners and are honored to power the linkage between the crypto space and fiat space in Korea, where interest in cryptocurrencies has never been stronger.