As part of Litecoin Foundation's new partnership with MeconCash, lightcoin will be added to the M.Pay platform, allowing LTC to be exchanged for fiat currency in more than 13,000 ATMs in South Korea.
"With this service, Litecoin holders will be able to sell crypt currency and immediately receive fiat money in their hands, as well as send money transfers to Korea from abroad. We are just starting to work closely together, but we already plan to create new projects in the future, developed jointly with MeconCash," said the Litecoin Foundation.
In addition, LTC owners will be able to pay for mobile games that can be paid for with the help of M.Pay, as well as buy goods at the online store MeconMall. Creator of Litecoin Charlie Lee continues to develop the project, creating large-scale partnerships with major brands from different industries.
"Adding Litecoin to the M.Pay platform and a large ATM network will significantly increase the presence of cryptographic currency in the South Korean market," he said.
Alan Austin, director of the Litecoin Foundation, expects that with the ability to quickly convert Litecoin into fiat currency, LTC will gain demand in South Korea's cross-border transfer market. MeconCash Chairman Jo Jae Do shares the same view:
"With this new partnership, we will increase Litecoin's presence in the Korean market. Being able to withdraw the fiat via ATMs is only the first step. We look forward to a fruitful cooperation outside the Korean market as well.
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