Cryptocurrency exchange, Crypto.com, has partnered with one of SK’s fintech service providers and top four Value-Added Network (VAN), KSNET. The exchange confirmed the development in a blog post on Tuesday, stating that the partnership would enhance the traveling experience of South Korea’s foreign visitors by facilitating crypto payments.
According to Crypto.com, the partnership would allow foreign travellers in South Korea to use Crypto.com Pay for payment at leading fashion, beauty, and duty-free stores across the country. In addition to this, foreigners with the exchange’s Visa card can also use their cards to pay for mass bus transit in Jeju.
Notably, the fintech firm, KSNET is recognized as one of the biggest payment provider companies in the SK. The firm has over 330k outlets across the country with nearly 130 million transactions monthly and USD $4 billion in transaction volume per month.
Commenting on the partnership, the President and Chief Operating Officer of the exchange, Eric Anziani added that enabling the everyday use case of cryptocurrencies is the central goal of the exchange. According to Anziani, partnering with KSNET takes Crypto.com a step closer to achieving this goal.
Similarly, the CEO of KSNET, Hankook Park, has also commented on the partnership. Park revealed KSNET plans to expand payment options for foreign travelers through the partnership, further strengthening the firm’s position in Korea’s payment industry.
Crypto.com brings crypto payment options to Emarat dealers
Crypto.com has been unrelenting in its effort to expand the everyday utility of cryptocurrencies. Just last week, the exchange entered into a strategic Memorandum of Understanding with Emirates Petroleum Company PJSC (Emarat) to enable crypto payment options at Emarat service station outlets. As revealed, the partnership aims to allow Emarat dealers to incorporate crypto as a payment option in their various outlets across the United Arab Emirates.
Last month, Crypto.com also partnered with a financial technological firm in the United States, Green Dot Corporation to launch a new banking and money management tool. In the same vein, the exchange also partnered with a tech-forward financial services company, Bread Financials to launch crypto credit card program for customers in the US.
Read More: