Will Ripple become a preferred payment solution among Koreans?
Ripple has been one of the most popular cryptocurrencies in Korea for a while now. At the moment, XRP accounts for 11% of trading volume on popular Korean cryptocurrency exchange Bithumb.
Recently it was announced that Bithumb has partnered up with mobile payment solution Korea Pay Services allowing customers to pay with cryptocurrencies in real life stores. As one of the fastest and cheapest to use, major cryptocurrency Ripple has been receiving a lot of attention in anticipating of being used as a real currency.
An initial 6000 stores will be accepting cryptocurrencies in the first 6 months of 2018 with 2000 stores being added later.
South Korea has for a long time been far ahead of the rest of the world regarding cryptocurrencies and the adoption of it. This is yet another step towards the full adoption of cryptocurrencies.
Just recently news emerged from South Korea that they are planning to unban ICOs which has had a part in the re-ignition of cryptocurrency trading in Korea. Because of the increasing demand for cryptocurrencies, exciting times might be ahead of Ripple (XRP), especially if a lot of individuals start using it as a payment method.