Millions Thailand Merchants Now Accept Payments in Zcoin

By Tracy Hannes | August 19, 2019

Thailand citizens can now use privacy-focused digital currency Zcoin at local merchants registered with the Thai QR code system through Satang App.

Specifically, over 50 million Satang App users can use Zcoin in both in-store and online merchants, just by scanning a QR code. The system will verify transactions and enables merchants to be paid in Thai currency Baht via regulated exchange Satang Pro.

The movement is considered one major step in getting Zcoin closer to the mainstream adoption. However, there will be more challenges to come as Zcoin said per the announcement: 

“One common problem with convincing merchants to accept cryptocurrencies is that they would need to deal with volatility, conversions and basic understanding of handling them for very little benefit as there may be only a handful of people who pay using cryptocurrencies.”

Earlier,  Tipsuda Thavaramara, The Thai Securities and Exchange Commission (SEC) deputy secretary-general has reportedly re-introduced digital shares issuance and tokenized securities in the recent regulation. 

With the law improvement, more opportunities are opened for additional market players and support entirely digital shares to authorize tokenized securities depository platform and the issuance of digital shares in the primary market.

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