Bithumb, one of South Korea's largest cryptocurrency exchanges, announced on Monday the launch of a new service that allows customers to pay with cryptocurrencies at more than 6,000 physical stores nationwide. The service is developed in partnership with Korea Pay's Service, a digital payment and mobile gift card platform. The exchange plans to roll out the service in the first half of the year and expand coverage to 8,000 stores by the end of 2018.
Payment Mechanism and Partner Stores
Shoppers will be able to generate barcodes through mobile apps linked to their Bithumb wallets, enabling payments at cafes, restaurants, and retail outlets. Initial participating brands include Cafe DropTop, Yankee Candle, and Sulbing, one of Korea's most popular dessert chains. Korea Pay's Service boasts over 200 franchise partners and more than 400 domestic channels, including Starbucks, Outback, and Kakao Talk.
According to Bithumb, the move follows successful crypto payment models in advanced markets such as the United States, Japan, and Switzerland. The exchange emphasized its commitment to expanding the ecosystem through ongoing collaboration with partners. At the time of writing, Bithumb's 24-hour trading volume stood at $507 million, ranking it second in South Korea after Upbit ($910 million), according to CoinMarketCap data.
Offline Customer Center Expansion
Last week, Bithumb expanded its customer service center in Gangnam, Seoul, doubling consultation booths from four to eight to accommodate growing visitor demand. The center now offers support in English, Japanese, Chinese, and Korean. A separate VIP consultation lounge and help desks for voice phishing and hacking incidents have also been added. The exchange currently operates four major walk-in centers nationwide, handling an average of over 100 visitors daily.
In addition, Bithumb is in discussions with Wemakeprice, a major online shopping mall in South Korea, to enable crypto payments on its platform. It has also partnered with Innovation Corp, which operates a travel site listing over 50,000 hotels and accommodations, allowing customers to pay with cryptocurrencies held at Bithumb. Furthermore, the exchange is deploying crypto kiosks in restaurants and cafes for ordering food and making payments.
Bithumb's initiatives mark a significant step toward mainstreaming cryptocurrency payments in South Korea, leveraging a strong offline retail network and expanding customer support infrastructure.