Major US firearms marketplace Gunbroker.com partners with ICOx Innovation Inc. to use a US dollar-pegged stablecoin FreedomCoin as a payment option.

According to a press release by ICOx, FreedomCoin is described as “a new regulatory compliant corporate currency”, which will enable users of gunbroker.com to save time and reduce fee while paying for purchases. Gunbroker.com is reportedly the largest online market place for hunting, outdoor sport, and firearm products with over 4.7 million customers.

“Anyone who has purchased a firearm knows how painstakingly brutal it can be to deal with traditional credit card companies and other financial institutions,” said Steven F. Urvan, GunBroker.com’s CEO and CTO.

Steven also added that “we can virtually eliminate that problem and expose a whole new segment of gun and outdoor enthusiasts to the world of digital payments.”