The largest underground shopping mall in South Korea, Goto Mall, has partnered with a local cryptocurrency exchange HTS Coin to enable its 620 stores to accept Bitcoin (EXANTE: Bitcoin) beginning mid-December, Bitcoin News reported.
The exchange, which opened last month, has developed a smart payment system using cryptocurrencies and has recently launched a mobile app.
Bitcoin will be offered alongside other payment methods accepted by the mall such as cash, credit card, and Alipay.
Goto Mall CEO Chung Gwi Yeon commented: “I think it is very meaningful to be able to settle the bitcoin used by foreigners and young people at Goto Mall.”
The Mall is also known as Gangnam Terminal Underground Shopping Center. Spanning 880 meters long, about half a million people walk through the mall each day.
It is connected to one of the major subway transfer stations at which Seoul subway lines 3, 7, and 9 operate. Furthermore,about 30 bus routes including ordinary buses and airport buses pass through the area.
The mall had previously tested Bitcoin as a payment option where shop owners accepted Bitcoin directly. However, it was terminated since store owners often lost their passwords and could not use the coins.