{"id":39601,"date":"2018-03-26T13:34:47","date_gmt":"2018-03-26T20:34:47","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=39601"},"modified":"2018-10-09T21:22:56","modified_gmt":"2018-10-10T04:22:56","slug":"south-korean-exchange-bithumb-partners-korea-pay-services","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/south-korean-exchange-bithumb-partners-korea-pay-services\/","title":{"rendered":"South Korean Exchange Bithumb Partners with Korea Pay Services"},"content":{"rendered":"<p>Bithumb, the behemoth South Korean exchange, <a href=\"http:\/\/www.koreatimes.co.kr\/www\/tech\/2018\/03\/133_246252.html\">announced on Friday<\/a> an agreement with \u2018Korea Pay Services\u2019 that will see virtual currencies made available at thousands of stores across the country.<\/p>\n<figure id=\"attachment_39606\" aria-describedby=\"caption-attachment-39606\" style=\"width: 300px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-39606\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/03\/bithumb-300x242.jpg\" alt=\"\" width=\"300\" height=\"242\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/03\/bithumb-300x242.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/03\/bithumb.jpg 600w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-39606\" class=\"wp-caption-text\">Bithumb is one of South Korea's largest exchanges.<\/figcaption><\/figure>\n<p>The mobile payment company &#8220;Korea Pay Services&#8221; operate mobile gift certificates and electronic payment transactions at over 200 franchises, and the partnership will make virtual currencies available at over 8,000 outlets by the end of the year. It aims to create a \u201ccryptocurrency payment-environment\u201d at thousands of stores including Sulbing, Todai, Cafe Droptop, and Yankee Candle.<\/p>\n<h3>This is another notable step forward for South Korea, who are surging ahead in the adoption of cryptocurrency despite uncertainty over regulations.<\/h3>\n<p>A series of regulations have been put into place <a href=\"https:\/\/cryptoslate.com\/crypto-markets-cool-10-south-korean-uncertainty\/\">since December 2017<\/a>, including the\u00a0banning of\u00a0anonymous trading and\u00a0foreign use of domestic exchanges, in addition to banning all government officials from crypto holding and trading.<\/p>\n<p>Nevertheless, Bithumb is playing an instrumental role in pushing forward cryptocurrency adoption in the country. A Bithumb official commented:<\/p>\n<blockquote><p>&#8220;We have taken a landmark step [&#8230;] We will try hard to set up an environment in which cryptocurrencies are used extensively.&#8221;<\/p><\/blockquote>\n<figure id=\"attachment_27771\" aria-describedby=\"caption-attachment-27771\" style=\"width: 300px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-27771\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/01\/paywithcrypto-japan-southkorea-facebook-300x158.jpg\" alt=\"\" width=\"300\" height=\"158\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/01\/paywithcrypto-japan-southkorea-facebook-300x158.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/01\/paywithcrypto-japan-southkorea-facebook-768x403.jpg 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/01\/paywithcrypto-japan-southkorea-facebook-1024x538.jpg 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/01\/paywithcrypto-japan-southkorea-facebook.jpg 1200w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-27771\" class=\"wp-caption-text\">Related Story: <a href=\"https:\/\/cryptoslate.com\/south-korean-japanese-markets-beginning-accept-crypto-payments\/\">South Korean and Japanese Markets Beginning to Accept Crypto Payments<\/a><\/figcaption><\/figure>\n<p>The exchange has seen rapid expansion over the past year, and are pioneering adoption with a string of partnerships.<\/p>\n<p>Just this month they announced another <a href=\"http:\/\/markets.businessinsider.com\/news\/stocks\/major-south-korean-exchange-bithumb-partners-with-bitpay-to-corner-\u2018$200-bln-market-6030715\">partnership<\/a> with BitPay, which aimed to facilitate the 200 billion dollar industry of cross-payments between Korea and the West. This would be significantly more efficient and cost-effective than the existing cross-border payment methods of bank wires.<\/p>\n<p>They have also entered the retail kiosk business, and have implemented cryptocurrency as a payment option in restaurants and cafes around the country. In January, they announced a partnership with significant e-commerce platform <a href=\"https:\/\/cryptoslate.com\/south-korean-japanese-markets-beginning-accept-crypto-payments\/\">WeMakePrice<\/a>, a popular South Korean online mall which now accepts twelve digital currencies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bithumb, the behemoth South Korean exchange, announced on Friday an agreement with \u2018Korea Pay Services\u2019 that will see virtual currencies made available at thousands of stores across the country. The mobile payment company &#8220;Korea Pay Services&#8221; operate mobile gift certificates and electronic payment transactions at over 200 franchises, and the partnership will make virtual currencies [&hellip;]<\/p>\n","protected":false},"author":37,"featured_media":39609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,5789],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>South Korean Exchange Bithumb Partners with Korea Pay Services<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/south-korean-exchange-bithumb-partners-korea-pay-services\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Korean Exchange Bithumb Partners with Korea Pay Services\" \/>\n<meta property=\"og:description\" content=\"Bithumb, the behemoth South Korean exchange, announced on Friday an agreement with \u2018Korea Pay Services\u2019 that will see virtual currencies made available at thousands of stores across the country. The mobile payment company &#8220;Korea Pay Services&#8221; operate mobile gift certificates and electronic payment transactions at over 200 franchises, and the partnership will make virtual currencies [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/south-korean-exchange-bithumb-partners-korea-pay-services\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-26T20:34:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-10-10T04:22:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/03\/bithumb-korean-pay-services-social.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kieran Smith\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"South Korean Exchange Bithumb Partners with Korea Pay Services\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/03\/bithumb-korean-pay-services-social.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kieran Smith\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/south-korean-exchange-bithumb-partners-korea-pay-services\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/south-korean-exchange-bithumb-partners-korea-pay-services\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/kieran-smith\/#person\",\"name\":\"Kieran Smith\",\"url\":\"https:\/\/cryptoslate.com\/author\/kieran-smith\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/kieran-smith\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/kieran-smith\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/03\/author-kieran-smith.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/03\/author-kieran-smith.jpg\",\"caption\":\"Kieran Smith\"},\"description\":\"Kieran grew up in a small town just north of Birmingham, and is currently based in Bristol, UK. 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