Altcoin News: Major Chain of Retail Stores in South Korea Will Start Accepting Payments on the Blockchain

October 9, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Marko Vidrih
Oct 9 · 2 min read

One of the largest chains of convenience stores in South Korea, CU will allow its customers to pay offline on the blockchain, according to the press release on local media Blockmedia.

According to the publication, the company will use the mobile payment service CHAI, developed on the basis of the Terra blockchain platform. The asset offered to customers will be presented in the form of stablecoin tied to the Korean won. None of the other cryptocurrencies have been announced at this time.

“We are pleased to provide simple difference payment service to BGF Retail, which has 13,500 stores nationwide.” said Han Chang-joon, CEO of Chai Corporation. — “Consumer benefits will be maximized.”

Chai and Terra signed a cooperation agreement this June to develop blockchain payments on the network and the real world. Terra has received the support of investors such as Binance, OKEx, Huobi, Polychain, Dunamu and Arrington XRP Capital.

Earlier it became known that South Korea will continue to take a cautious approach to the issue of cryptocurrency regulation.

Author: Marko Vidrih


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Marko Vidrih

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I love writing, and that is why I do it. A passion for not only providing information but for helping people understand.

ALTCOIN MAGAZINE

The best damn place to read and write about crypto and blockchain.

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