Litecoin Joins MeconCash Providing LTC Withdrawals Extensively in South Korea

News / 28.02.2020

The Litecoin Foundation announced that it was partnering with MeconCash to allow LTC to be withdrawn in Korean won (KRW) at over 13,000 ATMs in the country. The announcement was made on the 28th of February 2020. This partnership gives LTC holders access to quick cash while being able to send remittances from overseas to South Korea.

According to the terms of the partnership, LTC will be integrated into MeconCash’s M.Pay payments platform. The LTC coin shall be an acceptable medium of payment by MeconMall, MeconCash’s retail platform. Games that accept M.Pay rewards shall also be paid for via the platform.

Industry Optimism

MeconCash’s chairman, Jo Jae Do, has noted this partnership’s ability to grow the presence of Litecoin throughout South Korea. ATM withdrawals services shall be the starting point of this expansion.

With the Litecoin foundation as a business partner, Jae Do is optimistic about MeconCash’s ability to set a global footprint. In his view, the near future holds positive expansion signs both in the Korean and global market at large. Litecoin’s founder, Charlie Lee, also views the integration of Litecoin into M.Pay’s platform and several networks of ATMs as a positive step toward the crypto’s expansion into the South Korean market. He believes that MeconCash’s persistent expansion together with its additive services offers a good medium for LTC use.

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Sudarshan M is a long time crypto-enthusiast. Pulled in by bitcoin early on, it did not take long for Sudarshan to divert all of his academic attention from business studies to blockchain by doing his Masters and eventually pursuing his PhD in the subject.