South Korean cryptocurrency exchange Bithumb announced on Wednesday the launch of its “cryptocurrency payment service” for major online shopping marketplace Qoo10, which it referred to as “Asia’s Amazon.”
The two companies signed a contract in August and have been developing a payment service for Qoo10 that uses Bithumb cash.
A Bithumb representative explained to news.Bitcoin.com that for each customer.
Bithumb started offering the “Bithumb cash payment service for Qoo10 from the 5th of this month,” the exchange wrote. This payment option is now listed on the marketplace alongside Payco, Paypal, and E-money.
The representative emphasized that currently this service is only available to Koreans, including those living overseas. Foreigners living in Korea cannot use it, the representative noted, adding that the company is working to make it available to all users.
An official of the exchange explained at the time that all cryptocurrencies held in Bithumb accounts can be used. “The process of converting virtual currencies into Bithumb cash is done automatically based on current market prices,” the news outlet detailed.