Litecoin Foundation: Litecoin has entered the mainstream. 13,000 LTC bitomats in South Korea.
Litecoin (LTC), the seventh largest cryptocurrency in terms of market capitalisation, is now available in more than 13,000 bitomats in South Korea. According to the Litecoin Foundation, LTC is thus entering the mainstream in this Asian country. All this through its partnership with MeconCash.
The Litecoin Foundation joins forces with MeconCash
MeconCash now integrates the popular crypto platform M. Pay, thus enabling Litecoin holders to send money transfers to South Korea from abroad and giving them access to quickly convert digital coins into cash. Litecoin users will also be able to buy products from MeconMall from MeconCash and pay for mobile games.
However, the partnership is to be further expanded in the future. Jo Jae Do, President of MeconCash, talked to the media:
“Thanks to the cooperation with the Litecoina Foundation, we will increase Litecoin’s presence on the Korean market, starting with bitomat payment services. And after cooperation with the Litecoina Foundation, our partner, we expect global development and positive effects of this synergy in the coming future, not only on the Korean market, but also on the global market”.
Litecoin in the mainstream
It is worth noting that Litecoin’s creator, Charlie Lee, continues to focus on building various large-scale partnerships that can facilitate access to his crypto community. For example, he cooperates with large brands from various industries, but also reaches for K-pop stars or professional sports.
Lee says that the new integration with the M. Pay platform and the large bitomat network is “a big step towards increasing Litecoin’s reach in South Korea. It is also a stimulus for the crypto in the context of the country’s remittance industry, which trades up to 6 billion dollars annually.
Alan Austin, Director of the Litecoin Foundation, adds:
“With billions of remittances sent each year to South Korea, Litecoin offers a significant advantage over traditional methods of sending money abroad via the M. Pay platform thanks to its speed, security and low transaction fees.
Will all this help LTC regain the title of the “silver of the Internet” and second place in the ranking of cryptic capitalization?