SEOUL — South Koreans are about to get a lot more options on where they can spend their hard-earned virtual currency.
Korea JoongAng Daily reports that South Korean cryptocurrency exchange Bithumb recently partnered with a digital payment service operator to allow the widespread adoption of crypto payments.
Barcodes built into mobile apps will allow consumers to pay for goods at physical stores using the cryptocurrencies they hold at the exchange, according to a news release from Bitcoin.
The payment system is set to be available at 6,000 retail outlets around the country within the first half of the year, and could expand to 8,000 outlets by the end of 2018.
On top of this, Bithumb also signed an agreement with a Korean travel website, allowing customers to book hotels and other accommodations via cryptocurrency.
Virtual currencies are incredible popular in South Korea. It's currently the third largest market for cryptocurrency after the U.S. and Japan.