A South Korean travel website with more than 50,000 hotels and other types of accommodation will start accepting 12 cryptocurrency, thanks to a partnership between its operator and Bithumb, a leading cryptocurrency exchange in Korea.
Pay for more than 50,000 hotels with Crypto
One of South Korea’s biggest cryptocurrency exchanges, Bithumb, announced Tuesday its business partnership with Seoul-based company With Innovation Corp. through this partnership, customers will be able to pay with cryptocurrencies for more than 50,000 accommodation facilities, including hotels, motels, inns, motels, bed and breakfast and camper vans. Specialized in small and medium-sized accommodation facilities, the service operates under the brand name “How are you here?” Hankyoreh elaborated:
The user can pay in a virtual currency held in their Bithumb account when booking a hotel, resort, or motel. There are about 50,000 registered properties here [in Korea].
As of this writing, Bithumb is the fifth largest crypto exchange in the world by 24-hour trading volume and the second biggest in South Korea. Kakao Corp Backed Upbit is currently the largest crypto exchange in the country.
12 Supported Cryptocurrencies
Bithumb explained that all of the 12 cryptocurrencies that the platform supports can be used: bitcoin, bitcoin cash, ripple, ether, ethereum classic, EOS, qtum, monero, litecoin, zcash, bitcoin gold, and dash. The newspaper quoted comments from the exchange:
We expect that virtual currencies will be used to make reservations and payments for domestic and international travelers, which will be of great help in increasing convenience.
Customers can reserve a room using With Innovation applications and pay their bills with one of the cryptocurrencies they have in their Bithumb accounts, Zdnet Korea explained, adding that the applications have “about 2 million net users monthly. Available in Android and iOS, the application in the Google Play store has over 41,000 ratings, with an average of 4.4 stars. Meanwhile, the iTunes store gave it an average rating of 4.7 stars per 5,700 users.
“The service will be introduced in the first half of this year,” Yonhap quoted Bithumb, emphasizing that it will start “as soon as possible.” The exchange added that it“constantly discussing with various companies” in order to expand usage of cryptocurrencies in Korea. Bithumb was further quoted by Green Economy: Bithumb was also quoted by Green Economy:
Our country has become a part of the global trend of spreading cryptocurrencies through the partnership with Korea’s largest accommodation app
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