Cardano (ADA) has secured a monumental partnership with South Korean Payment platform giant, Metaps Plus. In the announcement less than 3 days ago, and through the Emurgo.io website, ADA will now be “used in over 33,000 offline franchise stores and promotions partnering with named franchise who are current Metaps Plus’ partners by Q3, 2018”. This means that with this partnership and the aforementioned planned integration, ADA will be one of the few cryptocurrencies that have been integrated into a mobile payment platform in the greater Asian region.
The CEO of EMURGO, Ken Kodama, had this to say about the announcement:
“Our partnership with Metaps plus will allow Ada to expand more rapidly and be recognized eventually as a new way for payment settlement in the Korean market. I am very excited to be able to open a new era together through this platform.”
The chairman of the Cardano Foundation, Michael Parsons, was also excited about the partnership. He said:
“The adoption of Cardano’s Ada cryptocurrency token by Metaps Plus means immediate digital payments or settlements, with little to no fraud, can soon take place in Korea, a country that has a pioneering history of innovation and early adoption of new technologies.This can only benefit the future adoption of cryptocurrencies in general and ADA in particular.”
This partnership is huge in the sense that Metaps Plus is one of the largest mobile platforms in South Korea with over 10 Million mobile to offline transactions across over 40,000 offline stores to date. Also to note is the significance of South Korea in the Crypto-verse. The impact of their Regulators and government officials with respect to regulations and crypto crackdowns, in turn, causes havoc in the markets given that South Koreans make up a large proportion of crypto traders.
Evidence of this can be seen with the current market decline due to rumors of the South Korean exchange, Upbit, being investigated for fraud. If South Koreans can cause a panic of this magnitude in the markets, the inverse is also true. They can propel Cardano to new levels with this partnership and eventual adoption in the country.
For the latest cryptocurrency news, join our Telegram!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels