In news out earlier this morning Bithumb announced that it was getting into the hospitality business.
Well sort of.
Bithumb announced a partnership with Good Choice, the largest accommodation application in South Korea, to start accepting payments in cryptocurrencies through Bithumb.
If you are not familiar Bithumb is the largest cryptocurrency exchange in South Korea.
Which means...
The largest crypto exchange in South Korea just partnered with the largest accommodations app in South Korea.
The results could likely be many more use cases for cryptocurrencies!
Some details:
What is most interesting about this partnership is that customers will be able to book their accomodations and pay for them with several different cryptocurrencies through Bithumb.
It's not clear exactly what cryptocurrencies will be able to be used, but it looks like it might depend on what the customer holds in their crypto wallet on the exchange.
Meaning there could be many options for customers.
Good Choice has over 50,000 accommodations registered in the country which include hotel chains, resorts, guest houses, motels, camping, and glamping (to name a few).
The App claims to have over 2 million monthly users and over 2 million user reviews.
Some more of the specifics can be found here:
This is likely just the beginning.
According to a quote from Bithumb, they will be looking to create partnerships with other companies as well.
A quote from Bithumb can be seen here:
“We are discussing with various companies to expand the use of cryptocurrencies.”
Awesome!
According to coinmarketcap there are currently over 10,000 business that currently accept cryptocurrencies, including the largest online travel site in the world, Expedia.
Stay informed my friends.
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