One of the biggest cryptocurrency exchanges in South Korea, Bithumb on Tuesday, announced its commercial partnership with Seoul-based Company, With Innovation Corp. Due to this new alliance, customers will now start paying using cryptocurrencies for over 50,000 lodging facilities which include motels, hotels, inns, campers, and guesthouses. The travel site services specialize in small and medium-size lodging facilities.
Users can pay in virtual currency held in their Bithumb account at the time of booking. Approximately, 50,000 properties are registered in South Korea alone. Bithumb is currently the fifth biggest encryption market in the globe by transaction volume and the second biggest in South Korea. While, the Upbit supported by Kakao Corp is nowadays the biggest country’s cryptocurrency exchange.
12 Cryptocurrencies Supported
According to Bithumb, following are the 12 cryptocurrencies that are supported by the platform. Bitcoin, bitcoin cash, ethereum classic, ripple, ether, EOS, qtum, bitcoin gold, dash, monero, litecoin, and zcash. It is expected that the digital currencies will make payments and reservation simpler for national and global travelers, which will be of big assistance to boost the convenience.
By applying the With Innovation applications, customers can book rooms and pay their bills using any of the twelve cryptocurrencies whereby the applications have an average of two million monthly net users. Users can get them on iOS and Android, with the Google Play store application having over 41,000 ratings, and an estimate of 4.4 stars. In the meantime, the iTunes store has given this application approximately 4.7 stars rating where 5,700 users currently use it.
The service will begin soon this year, amid more discussion with various firms to expand the utilization of cryptocurrencies in the country. As reported by Green Economy, South Korea has become part of the world trend in spreading the digital currency through the partnership with the most significant hosting application in the country.