- TRON signs partnership with cryptocurrency payment service company MeconCash to bring TRX and JST to South Korea.
- TRX and JST will be distributed through 13,000 ATMs in the country and will allow users to withdraw their cryptocurrencies in fiat money.
In a press release, TRON revealed its partnership with crypto payment company MeconCash. The partnership will allow MeconCash to distribute the TRX token and the stablecoin JST at 13,000 ATMs throughout South Korea. Users will then be able to withdraw their funds in fiat cash.
TRON brings benefits to South Korean users
MeconCash is a platform for payment solutions, rewards and transactions related to cryptocurrencies, online and mobile services. It is currently in a process of integration with other services such as ATMs, gaming applications, hospital fee payment, among others.
In that sense, the partnership with TRON will enable users to access various benefits. The release states that tourists visiting South Korea will be able to have quick access to their money without having to “go through the trouble of an exchange”. In addition, they will be able to avoid the limitations imposed on tourists for undeclared cash amounts.
Additionally, users may use their money to pay at merchants that do not accept electronic peer-to-peer payments. The association also offers its users lower associated fees compared to a credit or debit card. TRON CEO Justin Sun says:
TRON is excited to start working together with MeconCash, the rise of crypto payment systems is already here and our mission is to help regular people to access this convenient and simple payment method in their everyday life.
On the other hand, MeconCash President Jae Do Cho said he was honored by the partnership with TRON and the expansion they bring to the ecosystem. Cho added:
Together, we will collaborate to make the world a better place and grow together.
As reported by CNF, JST is the stablecoin recently introduced by TRON and part of TRON’s decentralized lending platform, JUST. The stablecoin is linked to the american dollar in a 1:1 ratio and was a success during its first sale on LaunchBase, after running out in 5 minutes.