South Korea’s largest online retailer has announced support for 12 crypto-currencies

Bitcoin, Ethereum, Litecoin and other crypto-currencies will soon be available as a payment option on South Korea’s largest e-commerce platform, WeMakePrice (Wemepu), according to CCN, citing local media.

The integration of Crypto-currency into the OneThePay payment system, which WeMakePrice uses, will be implemented with the support of the leading exchange of the Bithumb country. Users will use the existing application without creating an additional account on Bithumb.

In an interview with HanKyoReh, WeMakePrice’s representative stated that the decision to integrate the crypto-currency became part of a broader initiative aimed at facilitating the customer payment process for purchases.

“The integration of cryptocurrency is part of our initiative to make payments more convenient for our customers and customers, and we believe that mobile applications, a system of bonus points and crypto-currencies are effective payment methods,” he said WeMakePrice.

It should also be noted that this is the first time that South Korea’s leading online retailer will offer crypto-currencies as one of the main payment methods. This WeMakePrice solution is expected to contribute to further disclosure of the country’s encrypted currency.

As you know, there are significant volumes of cryptocurrency trading to South Korea, but recently the country has been shaken by contradictory news about strict measures to regulate this market, which the authorities can introduce.

Therefore, the South Korean authorities have forced all cryptocurrency traders to convert anonymous digital accounts into accounts by the end of January in accordance with the AML / KYC legislation. In addition, exchanges will be necessary to transfer information about their clients’ transactions to banks on the basis of a government decision.