Litecoin Foundation – the non-profit in charge of the Litecoin (LTC) cryptocurrency on February 28, 2020, announced that it had partnered with fintech firm MeconCash to integrate LTC into its M.Pay platform. This partnership will allow LTC to be withdrawn to Korean Won (KRW) at more than 13,000 ATMs in South Korea.
LTC Withdrawal Made Easy
In a major move toward mainstream adoption of LTC, the Litecoin Foundation has inked a partnership with MeconCash to allow users to withdraw LTC to Korean Won at over 13,000 ATMs in South Korea.
The newly forged partnership will allow LTC holders quick access to cash as well as the ability to send remittances to Korea from abroad. Notably, the incoming remittance market in South Korea has an annual turnover of over $6 billion.
Further, the partnership allows LTC holders to use the digital currency to purchase products on MeconCash’s MeconMall and pay for mobile games that use M.Pay for rewards. The announcement that these developments are “only the beginning of a fruitful partnership” and that users can expect more interesting collaborations between MeconCash and Litecoin Foundation in the future.
Commenting on the development, Jo Jae Do, Chairman of MeconCash, said:
“Through our partnership with Litecoin Foundation, we will grow the presence of Litecoin throughout the Korean market starting with the ATM withdrawal services. And with Litecoin Foundation as our partner, we are expecting to grow globally and see positive synergies in the upcoming future not only in the Korean market but also in the global market.”
Similar sentiments were echoed by Litecoin Foundation Creator and Managing Director, Charlie Lee. He said:
“Litecoin’s integration into M.Pay’s platform and a large network of ATM’s is a big step toward expanding Litecoin’s footprint in the South Korean market, and we are excited to partner with MeconCash as they continue to grow their platform and offer additional services through which Litecoin can be used.”
Litecoin Gaining Mainstream Traction
Consistently ranked among the top cryptocurrencies in existence by market cap, Litecoin has been blazing the trail when it comes to promotion among the mainstream.
Recently, BTCManager reported how Litecoin had partnered with financial services firm Cred to offer a wide array of services to LTC holders.