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MeconCash Partners Up With Litecoin Foundation For Korean Fiat Withdrawals

Litecoin Price Analysis

The Litecoin Foundation had made an announcement, declaring its new partnership with MeconCas. The partnership will allow for the integration of the Litecoin cryptocurrency into the M.Pay platform. With this, users  will be capable of withdrawing a digital currency’s equivalent in Korean won across South Korea’s 13,000 crypto-enabled ATMs

Litecoin Integration Promises Global Expansion

With this new partnership, both companies hold optimism that it will enable remittance through the use of crypto, sending funds from across the world to South Korea. The partnership allows Litecoin holders to purchase products as well, leveraging MeconCash’s MeconMall. Users are further capable of paying for mobile games through M.Pay, enabling rewards in the various games.

As one would expect, the mandatory kind words had to be spoken. Jo Jae Do, the chairman of MeconCash, gave his side of the subject matter. He explained that MeconCash would be capable of growing a presence within the Litecoin industry, thanks to its new partnership with the Litecoin Foundation. Do expects his company to expand globally, thanks to the partnership, and foresees positive synergies when it comes to the future. He stipulates that these synergies are for the global markets as well.

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The Mandatory Kind Words

Charlie Lee, the creator of Litecoin, as well as the Managing Director of it, gave his side as well. He explains that the integration with the M.Pay platform, as well as the vast ATM network associated with it, is a critical step in increasing Litecoin’s South Korean presence. As such, Lee explained his overall excitement when it comes to partnering with MeconCash while they continue their mutual growth.

Even Alin Austin, the Director of the Litecoin Foundation, gave his kind word. He further explained that the door is open for new opportunities after Litecoin can be accessed at over 13,000 new ATM terminals across the South Korean market. He says that billions get sent to South Korea every year in terms of remittance.

With the integration of Litecoin, something said to have higher speed, lower transaction fees, and increased security, and it allows for remittance payers to gain that little extra advantage when compared to traditional money. M.Pay’s platform provides for regular remittance payments as well, for those too unsure or too fearful of getting into the crypto industry.

The Wheels of Progress Never Stop

As the world slowly starts to accept the crypto industry with varying levels of enthusiasm, many nations will pay the price for their delayed integration. Other countries, although small, will gain higher economic weight due to their quick action regarding it.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.