Bithumb begins offering crypto payment options for "Asia's Amazon"

10 Nov, 2018
by David Borman
News
Bithumb begins offering crypto payment options for Asia's Amazon

It was recently reported by bitcoin.com that Korean company Qoo10, sometimes referred to as "Asia's Amazon," is partnering with Bithumb to offer cryptocurrency payment options to customers.

The system is called "Bithumb cash," and is backed by the total crypto and KRW that the user has on the exchange. When a purchase is made using Bithumb cash, it automatically uses the users account and transfers the funds. The user can specify the order of cryptos that are sold once KRW is depleted.

It should be noted that at first this service will only be available to Korean citizens, however the company has assured that they are working to bring this feature to all customers.

Show owners will be able to decide if they want to have their payments reveived as KRW or as crypto. It seems most owners decide on the won, as crypto prices are still too volatile.

Overall, this will likely be another bridge that allows more people to use crypto for everyday purchases. Will other places adopt similar systems? Only time will tell.

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