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Bithumb to bring digital currencies to South Korean Restaurants

Bithumb to bring digital currencies to South Korean Restaurants

South Korea's largest cryptocurrency exchange, Bithumb has announced that they are planning to provide restaurants and cafes with virtual currency kiosks. Through this, the customers would be able to pay for their food with their digital currency holdings on Bithumb.

Bithumb and the kiosk manufacturers Tros Systems. IYU and Unos Space got together to form the kiosk, also called 'Touch B.' This partnership would give small food and beverage franchises the ability to help their customer through cryptocurrency clientele. While they do not plan to manufacture the kiosk initially, they would probably create the software used by the machines.

Bithumb released a statement in which it stated, "The entry into the kiosk venture is aimed towards providing benefits and low-cost rental services to small business owners."

"We would try to use the best of blockchain technology to provide a total solution to small-scale business," it added.

Bithumb plans to offer several options to the business who wish to utilize their kiosks, allowing the proprietors to gain maximum profit from the services.

Bithumb would also be offering their kiosks for less 10 percent less than the current going rate so that they can help the smaller businesses to make their products more affordable.

It also provides a password settlement service, Bithumb Cache where the Bithumb customers would be able to access their Bithumb accounts from these kiosks using their account passwords.

Bithumb has recently announced its partnership with Good Choice, one of the largest hotel booking services in South Korea to accept 12 different digital currencies; it would allow more than 50,000 hotels to get affiliated with it.

As the South Korean government has tightened the noose of the cryptocurrency exchange platforms, the Bithumb initiative is likely to give a boost to crypto-mania that encircles the country.