Today, the Litecoin Foundation announced it has partnered with MeconCash to integrate Litecoin (LTC) into its M.Pay platform. This will allow Litecoin (LTC) to be withdrawn to Korean Won (KRW) at over 13,000 ATMs in South Korea.
This new service allows Litecoin holders access to quick cash as well as the ability to send remittances to Korea from overseas, a $6 billion market annually. In addition to payments, Litecoin holders can also purchase products on MeconCash’s MeconMall, and pay for mobile games that utilize M.Pay for rewards. This is only the beginning of a fruitful partnership and users can expect to see more interesting collaborations between MeconCash and Litecoin Foundation in the future.
“Through our partnership with Litecoin Foundation, we will grow the presence of Litecoin throughout the Korean market starting with the ATM withdrawal services. And with Litecoin Foundation as our partner, we are expecting to grow globally and see positive synergies in the upcoming future not only in the Korean market but also in the global market,” stated Chairman of MeconCash, Jo Jae Do.
“Litecoin’s integration into M.Pay’s platform and large network of ATM’s is a big step toward expanding Litecoin’s footprint in the South Korean market, and we are excited to partner with MeconCash as they continue to grow their platform and offer additional services through which Litecoin can be used,” said Charlie Lee, creator of Litecoin and Managing Director of Litecoin Foundation.
“The ability to access cash through Litecoin at over 13,000 ATM’s opens the door to new opportunities within the Korean market and globally,” said Alan Austin, Director at Litecoin Foundation. “With billions in remittances sent each year to South Korea, Litecoin (through its speed, security, and low transaction fees) offers significant advantages over traditional methods of sending money overseas through the M.Pay platform.” We look forward to our partnership with MeconCash as we continue to expand Litecoin adoption within the Korean market and around the world.”