[Asia Economy Reporter Ji-hwan Park] Domestic altcoin MikonCash announced on the 28th that it signed a strategic business partnership agreement with the global cryptocurrency Litecoin on the 7th.
Through this agreement, MikonCash and Litecoin have decided to jointly conduct global marketing. Additionally, Litecoin has been successfully integrated into MikonCash's M.Pay platform, allowing it to be actively used domestically starting from that day. According to MikonCash, this is expected to attract overseas Litecoin users to the domestic market.
Jae-do Cho, Chairman of MikonCash, stated, "After integrating the globally renowned Bitcoin Cash in January, we have consecutively anchored Litecoin on MikonCash's M.Pay platform. We plan to continuously integrate leading global cryptocurrencies into the M.Pay platform to expand the influx of global users into the domestic market." He added, "Through close cooperation with the Litecoin Foundation, we intend to establish a foothold for MikonCash's global expansion and proceed with full-scale globalization."
Litecoin, created based on Bitcoin, was founded by Charlie Lee on October 7, 2011. It is characterized by its design for light use in everyday life. Its daily transaction volume is 8.16 trillion KRW, and its market capitalization is approximately 4.69 trillion KRW.
With Litecoin integrated into the MikonCash M.Pay platform, it can now be used in MikonMall, which trades in the real economy. Medical and legal services at over 60 hospitals can also be paid for with Litecoin. Furthermore, cash withdrawal services are available at more than 13,000 ATMs nationwide, providing convenience in the remittance service market worth 7.2 trillion KRW annually.
Allen Austin, Director of the Litecoin Foundation, emphasized, "We expect to expand Litecoin's presence in the Korean market through this contract with MikonCash's M.Pay. Through the strategic business partnership with MikonCash, which is gaining attention in the global cryptocurrency market, we will create positive synergy both domestically and internationally."
MikonCash's M.Pay plans to continuously expand its usage in various lifestyle service sectors, including the real economy and medical services.
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