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How South Korea’s Largest Exchange Plans to Allow Millions to Use Cryptocurrency

Bithumb, South Korea’s largest cryptocurrency exchange, is on a mission to drastically improve the adoption of digital currencies in the country and evolve into a bank-like business to ensure its users can use cryptocurrencies with ease, like cash.

In 2018, within a four-month period, Bithumb has secured partnerships with the country’s third largest e-commerce platform, WeMakePrice, and the biggest local hotel booking platform, Yeogi Eottae. Both platforms are expected to integrate all 13 cryptocurrencies listed on the Bithumb cryptocurrency trading platform such as ICON, Bitcoin, Ethereum, Ripple, and Bitcoin Cash within the year.

Subsequent to securing these two important partnerships, Bithumb revealed on March 10 that it has entered the cryptocurrency kiosk industry to supply fast food chains, restaurants, cafes, and malls with cryptocurrency-accepting kiosks and ATMs.

By allowing users to carry barcodes that act as debit cards which receive payments directly from users’ cryptocurrency wallets, Bithumb is attempting to increase the adoption of cryptocurrency in South Korea by easing the process of transacting with existing digital currencies like Bitcoin and Ethereum.

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