Reaching and infiltrating the mainstream’s way of handling everyday financial transactions has been one of the main challenges, and hindrances, to the growth in the use of cryptocurrencies.

Not only are people hesitant about using the new-fangled currencies, but merchants are anxious about accepting them. There are some platforms in use that are facilitating crypto transactions, but they are typically only for crypto-to-crypto transactions. This, along with other issues, makes cryptos still not worth the effort to use by many in the mainstream.

Recognizing this, the startup STACK is creating a platform that will allow merchants to more easily and readily accept cryptocurrencies. It considers itself to be an alternative to traditional banking, and boasts having the tools available for people to better spend, save and share their cryptos.

It sees that the last barriers to mass market adoption will be removed when cryptocurrencies become embedded into everyday commerce. STACK found that an estimated $22 trillion of consumer spending takes place annually between shoppers and merchants.

Its efforts to help further infiltrate crypto spending into the mainstream will be facilitated through the STK token that is being developed. To fund its effort, STACK is planning an ICO for the end of the month.

Here, we’ll discuss STACK, as it sets out to deliver a usable and viable option that stands to help the mainstream further become accommodated with using cryptos in their regular spending.

The “huh?” barrier

For many in the mainstream, cryptos continue to be viewed as one of the most complicated inventions of their lifetimes. Trying to explain that a company can create a digital currency is one thing. Then tell them they can sell it to ordinary people who can then turn around and use them for purchases without being able to physically touch, them leaves many scratching their heads.

I call this the “huh?” factor, as this is the response I’ve received in trying to explain cryptocurrencies. This is also the reason many won’t take the time to even consider using the currencies.

Enter STACK, which is trying to eliminate the “huh?” barrier by simplifying the crypto spending process. It is addressing two main problems: a lack of merchant acceptance of cryptocurrency, and the challenge of point-of-sale payments not being made in as close to instant time as possible.

Taking the tech stuff out of it

An issue for many merchants accepting cryptos relates to the technology they must use to do so. It starts with the point-of-sale (POS) equipment. Often merchants have to change their POS equipment or systems to handle cryptos. Stack is addressing this by enabling “ubiquitous” merchant acceptance of cryptocurrencies. STACK sees this as greatly accelerating the adoption of cryptocurrency and tapping into the existing ecosystem of global commerce.

To address merchants, STACK has partnered with an existing payment network that will allow the cryptocurrency wallet to be used at 39 million merchant locations. The more places people see cryptos being accepted, the more people are likely to give it a try.

Many existing platforms that merchants use for crypto transactions are lackluster because of time issues related to how transactions are recorded the Blockchain being used. STACK is creating what it calls State Channels that will provide real time transaction guarantees on the Blockchain. To make the point-of-sale purchases instant, STACK is developing its STK token, whose liquidity pool will provide the funding for that swiftness.

Also, instead of just allowing users to perform transactions from crypto to crypto, STACKS wants to make borderless fiat to crypto transactions possible.

It’s specifically addressing the exchange process typical of most cryptocurrencies, which it calls “cumbersome.”

The token

The token STACK is working on is being developed by STK Global Payments AG. Called STK, it will be offered during the ICO, which is slated for Oct. 25. From its white paper, it is stated:

“The STK token will enable users to transact with cryptocurrency in mainstream markets and at brick-and-mortar stores without the cumbersome exchange process typical of most cryptocurrencies. STK will be available through the STACK digital wallet, currently in private beta and scheduled to launch in Canada later this year, followed by a U.S. expansion in early 2018.

Of the one billion tokens in the ICO, 550 million, or 55%, will be offered for public sale. 25% will be held in reserve, with the remaining going to the founders, team members and advisors. The costs for putting on the ICO will also be covered.

STACK is aiming to be the first financial technology company to establish a contactless system for cryptocurrency transactions. If all goes well, including the ICO, STACK plans to launch by the end of the next year.