South Korean Crypto Exchange Bithumb Lanches Payment Service with ‘Asian Amazon’ Qoo10

Qoo10, the so called “Asian Amazon,” is a leading South Korean e-commerce company in pan-Asian markets such as Singapore, Hong Kong, China, and Indonesia. The press release notes that the partnership will expand the Bithumb cash payment service as a global payment method.

The two companies initially signed a contract in August and proceeded to work with the Qoo10 settlement service and Bithumb Cache system. Introduced by Bithumb this spring, Bithumb Cache is a password settlement service that allows Bithumb customers to convert their funds to use for payments with their password.

Through this new partnership, it will become possible to purchase products from Qoo10 and pay for them using the Bithumb Cache. Bithumb’s press release states:

Earlier this summer, eBay, a global e-commerce platform, had acquired Qoo10 for the total sum of $573 million, with the aim of increasing eBay’s international presence.