It is a widely known fact that South Korea is one of the largest markets in the world for cryptocurrencies, and the recent regulations by the South Korean government have just provided a pass to the financial asset to grow within the territory in a legalized setting and a regulated space.
Therefore, it is no wonder to see that more and more institutions from the country are now looking towards early adoption of cryptocurrencies in order to keep up with the future.
The latest to join them is a hotel booking platform in South Korea, which just announced that it is going to accept cryptocurrency payments through its website.
The hotel industry is the latest to join cryptocurrency payments in south korea
According to local news sources, Yeogi Eottae, a South Korean hotel booking platform, is teaming up with cryptocurrency exchange Bithumb in order to offer cryptocurrency payments to facilitate its customers.
It was mentioned that Bithumb would enable a payment platform for the hotel booking provider from where the latter would be able to accept payments in cryptocurrencies such as Bitcoin, Ether, Litecoin, Bitcoin Cash, and Ripple.
By doing so, Bithumb aims to works towards increasing cryptocurrency adoption within South Korea, and hopes that initiatives like this one would allow the country to emerge as one of the pioneers in accepting cryptocurrency on a wider scale.
Since the project was announced just last week, the reaction to it from its projected end-users is yet to be seen. However, both Yeogi Eottae and Bithumb are confident that the initiative would prove to be beneficial in the long run.