South Korean travel website accepts 12 cryptocurrencies for payment

A South Korean travel website lists more than 50,000 hotels and other types of accommodation facilities as accepting 12 cryptocurrencies, thanks to a partnership between its operator and major South Korean cryptocurrency exchange Bithumb.

More than 50,000 hotels accept cryptocurrency payments

Bithumb, one of South Korea’s largest cryptocurrency exchanges, announced an alliance with Seoul-based Innovation Corp. on Tuesday. Thanks to the partnership, customers will be able to pay with cryptocurrencies at more than 50,000 accommodation facilities, including hotels, motels, inns, motels, guest houses, and campings. The service will focus on small and medium-sized accommodation facilities and operate under the brand name “How are you doing here?” Yonhap News Agency explained:

“Users can pay for hotels, resorts or motels with the cryptocurrency in their Bithumb accounts when booking them. There are currently about 50,000 registered properties in Korea.”

At the time of writing, Bithumb’s 24-hour trading volume ranks fifth among global cryptocurrency exchanges, and it is also the second-largest exchange in South Korea. Kakao Corp-backed Upbit is currently the largest cryptocurrency exchange in the country.

Supports 12 cryptocurrencies  

Bithumb explained that all 12 cryptocurrencies supported by the platform are available: Bitcoin, Bitcoin Cash, Ripple, Ethereum, Ethereum Classic, EOS, Quantum, Monero, Litecoin, Dash, Zcash, and Bitcoin Gold. The news outlet quoted the exchange as saying:

“We anticipate that virtual currencies will be used to make reservations and payments for domestic and international travelers, which will greatly help these tourists and increase convenience.”

Customers can book a room using Innovation’s app and any cryptocurrency they have in their Bithumb account, Zdnet Korea explains, adding that the app “already has 2 million users per month.” The app is available on Android and iOS devices and has over 41,000 reviews on the Google Play store, with an average rating of 4.4 stars. Meanwhile, the iTunes store has an average rating of 4.7 stars from 5,700 users.

“The service will be launched in the first half of this year,” Yonhap cited Bithumb, stressing that it will “start as soon as possible.” The exchange also said it is “continuously discussing with various companies” in order to expand cryptocurrency usage in South Korea. Green Economy further quoted Bithumb as saying:

“By partnering with South Korea’s largest accommodation app, our country has become part of a global trend to spread cryptocurrency.”