Newly Opened Rental Service of Paycoin Is Already Facing Crisis

PayProtocol, a virtual asset payment service provider, is raising concerns about the sustainability of its Paycoin rental service. Home appliances from Coway, Samsung, LG, and Chungho can be rented with Paycoin. However, the FSC has requested PayProtocol to prove the issuance of real-name verification with the bank by the end of this year. Partner attorney Ohoon Kwon expressed his concerns in an interview. He commented, “In a situation where it is uncertain whether the business will continue, the company’s promotion of the service could mislead consumers to believe that a new service has been opened. Consumers may suffer damage if a real name account is not issued.”

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