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Crypto exchange Bithumb launches payment service with e-commerce company Qoo10

On November 7, South Korea’s cryptocurrency exchange Bithumb announced it had partnered with Asian e-commerce giant Qoo10 to provide a cryptocurrency payment service.

Qoo10 is a leading South Korean e-commerce company in pan-Asian markets such as Singapore, Hong Kong, China, and Indonesia. The press release notes that the partnership will expand the Bithumb cash payment service as a global payment method.

The two companies initially signed a contract in August and proceeded to work with the Qoo10 settlement service and Bithumb Cache system. Introduced by Bithumb this spring, Bithumb Cache is a password settlement service that allows Bithumb customers to convert their funds to use for payments with their password.

Through this new partnership, it will become possible to purchase products from Qoo10 and pay for them using the Bithumb Cache.

“The partnership with Qoo10 has made it possible for us to utilize the Bithumb cache beyond our home country and abroad for real life. We will continue to improve our services to improve customer convenience”, – reads the press release.

On October 15, Bithumb launched a decentralized platform Bithumb DEX.