Litecoin holders in South Korea can now convert and withdraw Korean won from over 13,000 ATMs following a partnership between Litecoin Foundation and MeconCash, a blockchain technology service provider based in South Korea.
Announced on February 28, Litecoin will be made available on MeconCash’s M.Pay payments platform, which also allows users to make purchases for mobile games. Litecoin will also be integrated into the firm’s retail platform MeconMall where users can pay for products with LTC.
There is also the added benefit for Litecoin holders to be able to remit money to South Korea from anywhere in the world.
“Through our partnership with Litecoin Foundation, we will grow the presence of Litecoin throughout the Korean market starting with the ATM withdrawal services. And with Litecoin Foundation as our partner, we are expecting to grow globally and see positive synergies in the upcoming future not only in the Korean market but also in the global market,” stated Chairman of MeconCash, Jo Jae Do.
Charlie Lee, who is the creator of Litecoin and also the Managing Director of Litecoin Foundation, mentioned also that the partnership between Litecoin and MeconCash will help Litecoin move closer to mass adoption in the South Korean market. There are also many other creative services they can offer in the future where Litecoin can be used as the currency of transaction.
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