As part of the new Litecoin Foundation partnership with MeconCash, lightcoins will be added to the M.Pay platform, which will allow exchanging LTC for fiat currency at more than 13,000 ATMs in South Korea.
“Using this service, Litecoin holders will be able to sell cryptocurrency and immediately receive fiat money in their hands, as well as send money transfers to Korea from abroad. We are just starting to work closely, but we are already planning to create new projects in the future, developed jointly with MeconCash, ”the Litecoin Foundation said.
In addition, LTC owners will be able to pay for mobile games in which they can pay using M.Pay, as well as purchase goods in the MeconMall online store. Charlie Lee, creator of Litecoin, continues to develop the project, creating large-scale partnerships with major brands from various industries.
“The addition of Litecoin to the M.Pay platform and a large ATM network will significantly increase the presence of cryptocurrency in the South Korean market,” he said.
Director of Litecoin Foundation Alan Austin expects that, due to the ability to quickly convert Litecoin to fiat currency, LTC will receive demand in the South Korean cross-border transfer market. MeconCash Chairman Jo Jae Do is of the same opinion:
“Thanks to the new partnership, we will increase the presence of Litecoin in the Korean market. The ability to withdraw fiat through ATMs is only the first step. We look forward to working fruitfully outside the Korean market as well. ”
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