South Korean crypto users now have a fresh way to interact with the crypto world. Emurgo has teamed up with Metaps – a well-established payment provider – to create a card that holds Cardano and can be used as a payment method in the country. All merchants using Metaps will be able to opt into the program, and it’s currently available in more than 33,000 stores, restaurants, and venues across the country with hundreds more being added every month.
Changing the Payment World
Currently, in China and South Korea making transactions with your mobile phone is commonplace, so carrying around cards and cash isn’t as popular when compared to the west. This is one crucial factor that is helping Emurgo and Metaps power through the early phases of the project and reach thousands of consumers. If it manages to catch on, we could quickly see other crypto projects go down a similar path, changing the world of payments as we know it.
Crypto Payments Becoming Reality
It isn’t just Cardano and South Korea helping to make crypto payments a reality. Numerous high-profile bricks-and-mortar businesses are starting to accept crypto payments thanks to the help of BitPay. Birks Group is now accepting Bitcoin in its stores in Canada using a POS machine equipped with BitPay’s payment technology. These payment providers allow people to transfer their cryptos to stores quickly, efficiently, and easily – helping push mass adoption forward.
Altcoin Payments Are Now More Common
Being able to pay using altcoins like Cardano, IOTA, and TRON to name a few, is becoming far more commonplace. Payment firms and developers are working hand in hand to create a seamless payment interface and user experience. Recently IOTA developers showcased how far the platform’s technology has come by allowing users to feed sheep with IOTA tokens. This is just one platform showcasing its payment technology and scalability, and as time passes, more projects will join the global community of accepted payment methods.
South Korea – the Crypto Trailblazer
When it comes to crypto, South Korea is seen as a trailblazer, as it’s often miles ahead of the competition. It has its own crypto and blockchain regulatory body, dozens of regulated crypto exchanges, and a number of local governments actively use this new technology. In fact, one region has decided to create its own crypto to showcase just how powerful this technology is and to help push the boundaries of mass adoption. Gyeongsangbuk-do is set to launch its own crypto in the coming months, and it will surely be a huge development for the crypto community.
This move from Cardano and its development lab is huge, as it’s showcasing to the world just how scalable and practical Cardano payments really are. By teaming up with existing payment processors who are well known and trusted has given the project a much-needed boost. Soon we will see firms around the world adopting similar methods to help stores accept cryptos – or at least that’s what we hope.nofo