The Litecoin Foundation announced a partnership with MeconCash to roll-out Litecoin (LTC) to Korean won withdrawals and remittances from 13,000 ATMs in South Korea.
On Feb. 28 the Litecoin made the announcement was made stating that the partnership will see LTC integrated onto MeconCash’s M.Pay payments platform.
We are thrilled to announce that Litecoin Foundation is partnering with MeconCash to enable Litecoin (LTC) withdrawals to Korean Won (KRW) at over 13,000 atms across South Korea. Read more: https://t.co/yJfSTkRoC9 pic.twitter.com/Mx1njs9AZb — Litecoin Foundation (@LTCFoundation) February 27, 2020
Litecoin will also be accepted as payment on MeconCash’s retail platform MeconMall, and to pay for games that accept M.Pay rewards.
According to CryptoCompare, 24-hour trade between Litcoin and won produced nearly $4.3 million in trade — comprising 0.82 percent of total trade as of the publishing time.
Charlie Lee, the managing director of the Litecoin Foundation, described the partnership as “a big step toward expanding Litecoin’s footprint in the South Korean market.”
In 2018, South Korea produced a record volume of remittances with $6.25 billion worth of transfers. An increasing number of cryptocurrencies are seeking to capture the Asian remittance market.
Source: Cointelegraph.com