Bithumb exchange and Asian marketplace Qoo10 have reported entered into an agreement to launch crypto-based payment instrument.
According to the news reports, the first contract between the companies was signed back in August to develop Bithumb Cache system and Qoo10 settlement service. The Qoo10 is the key e-commerce company in South Korea, which is also known as "Asian Amazon". The company covers Singapore, Hong Kong, China and Indonesia.
Bithumb service called Bithumb Cache was rolled out in spring and represented the password settlement instrument. With this service, the users can convert funds from the exchange to make payments using a password system.
With this agreement, the service offered by Bithumb can become the global payment method, as the company commented.
"The partnership with Qoo10 has made it possible for us to utilize the Bithumb cache beyond our home country and abroad for real life. We will continue to improve our services to improve customer convenience,” pointed out the company representative.
For reference, the Asian marketplace was acquired by eBay this summer. The deal was closed for $573 million. Meanwhile, Bithumb and SeriesOne expressed plans to launch JV platform for securities token trading with the office in the USA.