Emart24 and Bithumb Joins Hands to Launch Bitcoin-Themed Meal Boxes in South Korea
Summary:
Emart24, a South Korean convenience store chain, is partnering with cryptocurrency exchange Bithumb to launch a Bitcoin-themed "meal box" for in-store purchase. About 30,000 boxes will be available by the end of the month, each priced at 5,900 Korean won (USD $4.30). Customers can avail of Bitcoin incentives by downloading Bithumb's app or opening a Bitcoin account with NH Nonghyup bank and linking it to Bithumb. The partnership follows recent excitement around Bitcoin and amid stricter cryptocurrency regulations.
Emart24, the South Korean convenience store giant, recently announced a novel collaboration with domestic cryptocurrency exchange, Bithumb. The partnership aims to launch a unique Bitcoin-themed "meal box" available for in-store purchase. The announcement made on May 9 states that around 30,000 such meal boxes will be hitting the shelves by the month-end, each priced at 5,900 Korean won (equivalent to USD $4.30).
According to local media, a Bithumb spokesperson shared that customers would receive Bitcoin worth 10,000 won upon downloading the exchange’s app and entering the coupon number provided in each meal box. Furthermore, the exchange is offering Bitcoin valued at 20,000 won for customers who open a Bitcoin account with NH Nonghyup bank. Existing account holders must link their account with Bithumb to avail of the Bitcoin incentive.
Bithumb is a renowned name among South Korea's cryptocurrency exchanges and is part of the Digital Asset Exchange Association (DAXA), alongside Upbit, Coinone, Korbit, and Gopax. It had previously shared its ambition to be the first crypto exchange to go public on the South Korean stock market, albeit its IPO plans have experienced delays.
This innovative Bitcoin meal box initiative comes amidst growing excitement about the cryptocurrency after the recent halving event which transpired on April 20. Bitcoin reached historic heights in March, going just below $74,000, with current fluctuations in price being attributed to post-halving "boredom" among Bitcoin bulls.
Bitcoin's stride gained momentum after the U.S gave a nod to the country's first Bitcoin exchange-traded funds (ETFs) on January 10. In South Korea, news about the newly elected democratic party's proposal to allow Bitcoin ETFs surfaced on 7th May; the formal request is expected post the June inauguration of the National Assembly. Despite enhanced scrutiny and regulations for the crypto space in recent years in South Korea, including harsher penalties for crypto-related crimes, and stringent guidelines for cryptocurrency exchanges, the sector continues to thrive. In fact, late last year, financial authorities in South Korea urged local cryptocurrency users to disclose any unregulated exchanges offering services in the area.
In the vibrant and unique cryptocurrency landscape of South Korea, these are interesting times indeed.
Published At
5/9/2024 11:39:34 AM
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