Skip to content

South Korea's largest e-commerce platform integrates 12 cryptocurrences, including bitcoin

Get trading recommendations and read the analysis on for only $ 39 a month.

WeMakePrice, better known as Wemepu, one of the largest e-commerce platforms in South Korea, integrates 12 cryptocurrencies. bitcoin, Ethereum, and Litecoin in collaboration with Bithumb, the country's largest cryptocurrency exchange.

First major reseller and e-commerce platform in South Korea

According to local traditional media, WeMakePrice is working with Bithumb to add cryptocurrencies to its existing OneThePay payment platform. Once integration is complete, existing WeMakePrice users will be able to purchase objects and services using cryptocurrencies.

While Bithumb is leading the process of integrating various cryptocurrencies into the WeMakePrice system, users do not need to be registered with Bithumb to use cryptocurrencies on the WeMakePrice platform. Since cryptocurrencies will be integrated into its existing infrastructure, users can pay for goods using the same application.

In an interview with South Korean mainstream media HanKyoReh, a spokesperson for WeMakePrice stated that the company had made the decision to integrate cryptocurrencies under the initiative initiative to facilitate the payment process for consumers in general.

"The integration of cryptocurrencies is part of our initiative to make payments more convenient for our consumers and customers.We consider mobile fintech applications, points and cryptocurrencies as effective payment methods, "said the spokesperson.

Another important medium reported that the cryptocurrency integration by WeMakePrice is the first case where a large electronic commerce platform or a retailer has decided to offer cryptocurrency. a primary payment option for users.

In previous reports, CCN reported that the majority of South Korean investors and local cryptocurrency market companies had begun to be optimistic about the long-term growth of the sector. because of the government's decision to regulate the market.

See also  Indian lawyer claims "urgent regulation" of bitcoin with court petition

The integration of cryptocurrencies by WeMakePrice shows the craze for the local cryptocurrency sector of several of the country's largest conglomerates in various sectors.

Increasing adoption

Yesterday, January 28, it was reported that Japan's largest consumer electronics retailer started testing Bitcoin payments. Yamada, which has become one of the top two retailers in Japan besides Bic Camera to integrate cryptocurrencies, partnered with the Japanese BitFlyer cryptocurrency exchange.

The official statement of the company translated by read:

"We will set up initiatives to improve the recognition of bitcoins and the promotion of usage.With the introduction of Bitcoin payment service, we meet the various needs from our customers in Japan and abroad We believe that we can provide improved service and convenience. "

This week, CCN reported that Starbucks President Howard Schultz claimed that bitcoin could not be a legitimate currency if retailers and large conglomerates did not want to adopt it. In Japan, bitcoin is accepted by the country's largest airline, Peach, the Capsule hotel chain, the Bic Camera and BitFlyer retailers.

In South Korea, almost all large conglomerates such as NXC of $ 10 billion and Telecom SKT have a significant share in cryptocurrency activities, and retailers have begun to consider the "big money" business. integration of cryptocurrency.

With the adoption of major cryptocurrencies like Bitcoin and Ethereum, the entire cryptocurrency market will be of interest to consumers in the coming months.

Picture of WeMakePrice.

Follow us on Telegram.