The Litecoin Foundation strengthens its presence in South Korea thanks to its new partnership with MeconCash, adding LTC to more than 13,000 ATMs across the country.
According to recent reports, it seems that the new integration of Litecoin in M.Pay, the MeconCash platform, will allow South Korean users to buy LTC in cash, specifically with Korean Won (KRW), directly from ATMs.
Basically, Litecoin holders will now also be able to buy products in MeconMall from MeconCash and pay games for mobile devices that use M.Pay to get rewards. But that's not all, the new association would also give litecoiners access to the possibility of send remittances to Korea from abroad, a market with a value of $ 6 billion every year.
In this regard, Alan Austin, director of the Litecoin Foundation, said:
“The ability to access Litecoin with cash at more than 13,000 ATMs opens the door to new opportunities within the Korean market and globally. With billions in remittances sent every year to South Korea, Litecoin (through its speed, security and low transaction fees) offers significant advantages over traditional methods of sending money abroad through the M.Pay platform. We look forward to our partnership with MeconCash as we continue to expand the adoption of Litecoin within the Korean market and around the world. ”
Continuing with the issue of the mass adoption of LTC, Charlie Lee also commented:
“The integration of Litecoin in the platform and the large network of ATM machines of M.Pay is a great step towards the expansion of the presence of Litecoin in the South Korean market, and we are excited to partner with MeconCash as their platform continues to grow and offer additional services through which Litecoin can be used. ”
Meanwhile, Jo Jae Do, president of MeconCash, said he is committed to expanding LTC adoption:
“Through our partnership with The Litecoin Foundation, we will increase the presence of Litecoin throughout the Korean market starting with ATM withdrawal services. And with the Litecoin Foundation as our partner, we hope to grow globally and see positive synergies in the near future not only in the Korean market but also in the global market. ”
Litecoin adoption continues to increase
With this new partnership, the Litecoin Foundation seems to want to change its expansion strategy from the previous ones that were based more on sponsorships and that saw LTC as the main cryptocurrency of global events.
In fact, continuing with the same mission of increasing LTC adoption, last summer Litecoin became the official cryptocurrency of the Miami Dolphins football team.
Not only that, just a year ago, the Litecoin Foundation had formed an alliance with Glory Kickboxing in order to be added as a payment method on the Gloryshop.com online store website, while in January 2019 it was a sponsor of the UFC 235, the important organizing company of mixed martial arts.
