The Litecoin foundation on February 28 announced its partnership with MeconCash to allow LTC to be withdrawn to Korean won (KRW) over 13,000 ATMs in South Korea. This new service will give LTC holders access to quick cash as well as the ability 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 will be accepted as a medium of payment on MeconCash retail platform, MeconMall. It will also be used to pay for games that accept M.Pay rewards.
According to Chairman of MeconCash, Jo Jae Do, this partnership will enable his company to grow the presence of Litecoin throughout the Korean market, starting with the ATM withdrawals services.
Having Litecoin foundation as a business partner, Do claims he is expecting MeconCash to grow globally. He added that the company will see positive synergies in the near future in the Korean and global market at large. Creator of Litecoin, Charlie Lee, also said Litecoin’s integration into M.Pay’s platform and several network of ATMs is a positive step toward expanding their footprint in the South Korean market. He said MeconCash’ continual platform growth and additional services offer will be a good medium for LTC to be utilized.
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