Coinplug has developed its own native payment processing software, currently deployed by a majority of Korea's bitcoin-accepting businesses. Promising "financial institution-level security", it allows merchants to transact without using payment processors.
Coinplug's user map (the far-right link on the blue title bar) offers a different selection of businesses to Coinmap, covering a wider geographic area and showing only those using Coinplug's software – but which still looks quite impressive.
Coinplug's app is Android-only and available in the international Google Play store. Rival iOS's bitcoin-phobia is much less of an issue in South Korea, where Android has a 93% share of the smartphone market and Apple just 5.1%. This is due partly to local manufacturer Samsung's home-ground advantage, and a lack of company-owned Apple stores in South Korea.
Coinplug in Korea
Coinplug started in June 2013 and officially launched in December to target the Korean and neighboring Asian markets. In November it received $400,000 in seed funding from Silicon Valley newcomer Silverblue, Inc., half in bitcoin and half in cash, which it used to develop its apps and trading platform.
It has a team of over 17 employees with plenty of mobile experience. Founder and CEO Ryan Uhr also founded mobile location-based services firm Celizion, and was chief technology officer at San Jose wireless company Exio Communications, which Cisco Systems acquired for $165m in 2000.
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