The foundation that runs Litecoin has established an effective cooperation with MeconCash, all in order to integrate Litecoin’s with the M.Pay platform. The project will allow for making withdrawals of LTC’s in a rather fiduciary style, namely from an ATM. This kind of “currency conversion” will be possible at as many as 13,000 ATMs in the South Korean state.
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The official announcement of these news says that a new cooperation between the Litecoin foundation has just been established, which will enable the resources in Litecoin’s cryptographic plant to have quick access to cash, i.e. de facto quick currency conversions. Users of Litecoin will be able to convert and withdraw the cryptocurrency in the South Korean fiduciary currency won (KRW) and will have a nice opportunity to make money transfers from abroad. In addition, the new cooperation enables the users to purchase products with Litecoinafrom the MeconMall retail platform and pay for mobile games via the M.Pay platform.
The CEO of the Litecoin foundation, Charlie Lee, clearly emphasizes that the integration of Litecoin with the M.Pay platform and such a large cryptographic exchange network as 13,000 ATMs is a big and important step towards increasing the reach of Litecoin in South Korea. He also points out that this is a great success and that he is pleased to cooperate with Meconcash both with the current joint action and with the actions taken in the future, as Meconcash is constantly developing its platform and, consequently, increasing the range of services it offers. Charlie Lee hopes that Litecoin will also be able to expand its range of application.
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The President of Meconcash, Joe Jae Do, also spoke on the cooperation.
He believes that thanks to the first step, i.e. the possibility of using litecoin freely through ATMs, the presence of the LTC will be significantly increased on the South Korean market. Furthermore, it also follows from the words of the President of MeconCash that both entities are not only concerned with the market in South Korea, but that this is a prelude to the cooperation extended to the whole world. The President makes it clear that he expects litecoin to help develop on a global scale and not just locally.
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Litecoin and its situation in the graph
The last day was an increase in the price of Litecoin, however, very small, by about 0.11 per cent. We would be talking about some optimism here, if not for the fact that when we take into account the weekly range of the course, the cryptocurrency is on a very serious minus, which is over 21.5 percent. Yesterday’s session at LTC started with a price of 61.44 USD for one litecoin and closed at 59.76 USD.
