Danal PayProtocol Unveils 'PayChain' On-Chain Financial Infrastructure in Open Beta to Expand Paycoin Ecosystem

Danal's virtual asset payment specialist company PayProtocol has unveiled its on-chain financial infrastructure, "PayChain," aiming to expand the Paycoin (PCI) ecosystem. The plan is to evolve from payment and settlement infrastructure to an open network supporting virtual asset payments, digital asset issuance, and even automatic payments between artificial intelligence (AI) agents.

PayProtocol announced that it would launch the open beta of PayChain for businesses starting August 10, 2026. The open beta will run until November 30, and participating companies can apply at any time during this period.

PayChain aims to solve issues related to settlement, evidence, and tax compliance that companies face in the virtual asset payment process by leveraging a blockchain-based infrastructure.

The core is to record the entire payment-to-settlement confirmation process as a digital settlement slip called a "Receipt." Only the evidence necessary for verifying forgery or tampering is left on-chain, while detailed transaction data is designed to be accessible only to authorized participants.

Through this, the system simultaneously secures the transparency that blockchain offers and the privacy of transaction information required by the financial sector. PayChain’s key feature is allowing companies adopting virtual asset payments to manage settlement, evidence, and tax tasks—previously handled separately—within a single infrastructure.

PayChain will also serve as the foundation for expanding PCI’s utility within the Paycoin ecosystem. PCI will be used for functions including the "PayMaster" feature, which allows for transaction fees to be handled without a separate gas token, as well as for staking and governance activities. PCI will also be used for staking, in which network validators participate to maintain stability.

PCI’s utility is expected to grow in the AI agent payment sector as well. PayProtocol plans to use PCI for operating the "Facilitator," a mechanism by which AI agents autonomously verify and execute transactions.

The structure aims to broaden PCI’s real-world use cases as payments and financial services on the PayChain network increase.

PayProtocol will initially operate PayChain with a focus on settlement infrastructure, then expand its functions to include virtual asset payments, token issuance, and digital asset management. In the long run, the company plans to develop it into an open on-chain financial network that supports automated payments between AI agents.

Accordingly, Paycoin's role is also expected to expand from a mere payment method to a utility token used throughout the PayChain network.

This open beta also serves as a proof-of-concept stage for building the mainnet. Participating companies can directly verify settlement scenarios tailored to their business structures using the testnet, while PayProtocol will provide the technical support necessary for integration.

Through the open beta, PayProtocol plans to identify settlement structures by company and requirements arising from real-world transaction environments, incorporating these insights into future mainnet design and service enhancements.

Jungwook Shin, CEO of PayProtocol, stated, "PayChain is infrastructure developed based on seven years of experience in the virtual asset payment business," adding, "The main purpose of this open beta is to apply real-world scenarios tailored to each company's unique settlement environment."

He further said, "We plan to reflect the results of the open beta in the mainnet design and move into official operation."

Meanwhile, any business considering the adoption of virtual asset payments, including stablecoins, regardless of size, can participate in the PayChain open beta. Participating companies will be granted early infrastructure partner status within the ecosystem after the mainnet launches.

This content was produced with the assistance of AI translation services.