STK Partners with MakerDAO to offer instant cryptocurrency transactions with Dai Stablecoin
Over the last few years, we’ve seen cryptocurrencies continue to gain significant traction around the world as a viable alternative to traditional finance. Benefits like global accessibility, decentralization, autonomy from localized markets make cryptocurrency an attractive alternative, but a lack of liquidity and the volatility of cryptocurrency markets make it difficult to provide the security required to gain traction for everyday use.
STK was created to provide a seamless solution to instant cryptocurrency payments at point of sale through the STACK wallet. Our platform allows instant payments at point of sale so you can use your cryptocurrency as easily as you would your debit card or cash.
Simultaneously, we’ve seen firsthand the need for stability on the blockchain. This is addressed through innovation in stablecoins — created to address the volatility of the cryptocurrency market. Stablecoins are designed to maintain a stable value, independent of the swings of altcoins, BTC or ETH. This makes them a more viable option for consumers looking for a reliable store of value, or medium of ongoing exchange. They share the same advantages as other cryptocurrencies — decentralization and global accessibility without the risk associated with other altcoins.
Maker, a decentralized autonomous organization on the Ethereum blockchain has created a solution to cryptocurrency volatility with the development of the stable token Dai — a stable currency that is pegged against the U.S. Dollar. MakerDAO has created the Dai Stablecoin System, a decentralized platform that runs on the Ethereum blockchain.
Today we’re announcing our partnership with Maker to integrate their Dai Stablecoin into our STK platform, providing the first cryptocurrency payments platform with stablecoin accessibility. STK will allow users to transact with Dai tokens through the STACK wallet at more than 37 million merchants worldwide.
Our mission is to help make cryptocurrency a globally accessible form of payment. Adding the security of a stablecoin to the instant liquidity provided by the STK platform provides a safe and secure range of options to spend your cryptocurrency how and when you want, regardless of changing market conditions.
Until now, the majority of volume in crypto transactions have been for investment or trading purposes. As blockchain technology continues to advance and more DAPPs are launched into the market, we’re working towards mainstream adoption of cryptocurrency so your money is instantly available, globally accepted and always there when you need it.
We’re proud to welcome MakerDAO to our platform as our first additional coin option. We’ll be announcing more tokens and features in the coming months.
You can read our official announcement here.