South Korea’s largest underground Mall to enable Bitcoin payments
South Korea’s largest underground mall has partnered with a local cryptocurrency exchange to enable 620 stores to accept bitcoin, Bitcoin.com reports. Shoppers will be able to use the world’s most popular cryptocurrency starting mid-December.
Goto Mall collaborated with local cryptocurrency exchange HTS Coin, which developed a smart payment system and recently launched a mobile app. Previously, the mall tested bitcoin as a payment possibility when stores accepted it directly, but it was soon abandoned as a solution since shop owners often lost their passwords and couldn’t utilize the digital currency payments.
The shopping complex is 880 meters long and a stopping place for an estimated half a million people each day. An increase in visitors is expected due to the renovation of a nearby apartment complex. The mall known as Gangnam Terminal Underground Shopping Center is connected to one of the biggest subway transfer stations as well.