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Bithumb Encourages Offline Digital Currency Payments In South Korea

Apr 12, 2018 Posted /  791 Views

Bithumb Encourages Offline Digital Currency Payments In South Korea

Bithumb Encourages Offline Digital Currency Payments In South Korea


Bithumb, a digital currency exchange platform is taking another big step by advancing their utilization in regular activities, for instance, purchasing products from vending machines. The exchange reported that its kiosks in South Korea will now be accepting Bitcoin Cash.

Bithumb is South Korea's biggest digital currency exchange with a day to day trading volume of around $245 million. It is now entering the consumer product payment market in order to expand adoption in the nation.

Bithumb has joined forces with mobile payment administrator Korea Pay's Services trying to reach more than 8,000 vendors all over the nation before the year's over. South Korea has around 200 established brands willing to attempt payments in digital currency. A pilot of the organisation is to be launched, this coming June. Consumer centred offline digital currency payments is a procedure that the trade is seeking to fuel adoption in South Korea.

To additionally advance the adoption of digital currency payments, recently, Bithumb has collaborated with three kiosk managers, Uno Space, TROS Systems, and IYU keeping in mind the end goal to include the new methods for payments. These kiosks are being presented to independent ventures that work with food and beverage establishments. The exchange charges a rental fee that is 10% below the industry rate, which enables organizations to build great benefits.

The Touch B brand is a result of Bithumb's methodology of going into the kiosk business. Under the brand, Bithumb is going to standardise the idea of paying for consumer goods in an offline setting.

A Bithumb representative disclosed to ZDNet Korea:

“The entry into the kiosk business is meant to provide substantial benefits and low-cost rents to small business owners. We will continue to work in various industries based on the blockchain technology to provide total solutions for small businesses through our partnership."

Bithumb will have three kinds of services for the kiosk business. Touchpad and Touchbone, which are intended to give adaptability to the small companies to pick a service in view of their prerequisites. The other service, Bithumb Cache, is a password settlement benefit with which clients can change their funds stored in the trade by just typing the password at a kiosk.

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Tags: Bithumb Offline Digital Currency Payments digital currency crypto cryptocurrency bitcoin Offline Bitcoin

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