Bithumb to Bring Cryptocurrency Kiosks to South Korean Restaurants

The initiative targets small food and beverage franchises looking to serve customers who hold digital currencies. Bithumb will offer multiple service options, allowing business owners to choose packages suited to their specific operations. The company prices its kiosks 10 percent below the market rate to make them affordable for smaller establishments. Customers can access their Bithumb accounts at the terminals using passwords through the exchange's Bithumb Cache service, which functions as a password settlement system.

In a statement, Bithumb said: "The entry into the kiosk business is meaningful to provide substantial benefits and low-cost rental services to small business owners. We will continue to work in various industries based on Blockchain technology. We will continue to provide opportunities to provide total solutions for small businesses through our partnership."

Bithumb has also expanded its reach into payment systems through other channels. The exchange partnered with Good Choice, South Korea's largest hotel booking application. Under the partnership, more than 50,000 affiliated hotels accept 12 different digital currencies from guests. A Bithumb spokesperson said: "Our partnership with the nation's largest accommodation app has allowed Korea to join the global trend to see a greater use of cryptocurrency and we are continuously discussing with various companies for a greater use of a simple and safe payment tool, cryptocurrency in Korea."

More than one million South Koreans hold cryptocurrency positions, a market segment that restaurants have yet to tap. In January, the government banned anonymous cryptocurrency trading to crack down on money laundering and tax evasion. Officials believe that removing anonymity from transactions will prevent illegal activity. The regulatory approach reflects Seoul's view of digital currency as legitimate money with the potential to boost the nation's economy.