Bithumb cryptocurrency exchange has partnered with Korea Pay Service to be used in 6,000 physical outlets in the first half of the year and 8,000 at the end of the year. To inform, Ripple is one of the most used cryptocurrencies in South Korea.
When we look at the trading volume of Bithumb, we see that the trading volume in the stock market is currently 642.4 Million dollars. Ripple transactions constitute 95.6 million dollars, which is 14.88% of this 642.4 million dollars. With these figures, Ripple is the 3rd most traded cryptocurrency on Bithumb. When we look at the Coinmarketcap site, it is the 6th most traded cryptocurrency.
Ripple will be accepted in many stores with Korea Pay
On the other hand, Korea Pay Services offers 8000 stores and 200 stores around South Korea. It carries out mobile gift certificates and electronic payment transactions at more than 3,000 dealerships. With this partnership, Ripple’s availability in the aforementioned 8,000 stores will increase by the end of the year. The aim of the partnership is to create a user-friendly cryptocurrency payment environment at thousands of stores including Sulbing, Todau, Cafe Droptop and Yankee Candle.
South Korea’s impact on Cryptocurrency is also remarkable, despite a constant threat of regulation by South Korean authorities. . Earlier this year, South Korean traders helped raise Ripple’s market cap from $40 billion to $88 billion. Of Missing Out) fear will no longer exist. Thus, adoption of cryptocurrencies in daily use of goods and services will increase in South Korea.