Bithumb, one of South Korea's largest cryptocurrency exchanges, has officially launched a new service that allows users to pay with cryptocurrencies at over 6,000 physical stores nationwide. This move marks a significant step in the everyday adoption of digital assets in South Korea and is part of Bithumb's broader strategy to build an offline payment ecosystem.
Partnership with Korea Pay's Service
Bithumb announced on Monday that it is expanding its cryptocurrency offline payment services in partnership with Korea Pay's Service, a digital payment and mobile gift card platform. According to reports, Korea Pay's Service already has partnerships with more than 400 domestic channels, including Starbucks, Outback Steakhouse, and Kakao Talk, covering over 200 franchise brands. Through the collaboration, shoppers will be able to use cryptocurrencies held on Bithumb to purchase goods at approximately 6,000 stores from brands such as Cafe DropTop, Yankee Candle, and Sulbing, one of Korea's most popular dessert chains. Payments are made via barcodes generated in mobile apps, enabling customers to pay at cafes and restaurants using their crypto holdings.
Bithumb noted that advanced cryptocurrency markets like the United States, Japan, and Switzerland are already utilizing similar crypto payment services. The exchange plans to launch the service in the first half of this year and expand to 8,000 stores by the end of 2018.
Expansion of Customer Service Centers
Last week, Bithumb expanded its customer service center in Gangnam, Seoul, doubling the number of consultation rooms from four to eight. The new center supports multiple languages, including English, Japanese, and Chinese, and features a separate consultation lounge for VIP guests. Additionally, help desks for voice phishing and hacking incidents have been established. Bithumb currently operates four major customer centers in major cities nationwide — Gangnam, Gwanghwamun, Busan Centum City, and Busan Daejeon — which together receive an average of over 100 walk-in visitors per day.
Further Offline Partnerships
Beyond retail stores, Bithumb has been in talks with WeMakePrice, a major online shopping mall in South Korea, although the company has not confirmed the partnership as of press time. The exchange also partnered with Innovation Corp, which operates a Korean travel site featuring over 50,000 hotels and other accommodations, allowing customers to pay for bookings using any cryptocurrency held at Bithumb. Furthermore, Bithumb is deploying crypto kiosks at restaurants and cafes for food ordering and crypto payments, further integrating digital assets into everyday transactions.
According to CoinMarketCap data, Bithumb is currently the second-largest cryptocurrency exchange in South Korea by 24-hour trading volume, recording approximately $507 million. In comparison, Kakao-backed Upbit leads the market with $910 million in trading volume over the same period.
With these initiatives, Bithumb is positioning itself as a pioneer in bridging the gap between digital currencies and real-world commerce, potentially paving the way for wider crypto adoption in the region.