Bithumb Launches Social Media Payment Platform

The SNS Pay platform will support payments on social media including social networking sites and blogs
10 April 2018   612

Bithumb is one of the largest exchanges in South Korea, which allows users to buy, sell, store Bitcoin and Ethereum, and offers additional services like remittances and gift vouchers.

According to the information published on Bitcoin.com, Bithumb is launching a peer-to-peer payment platform for social media. The platform entitled SNS Pay will support payments on social media including social networking sites and blogs.

SNS Pay is a service that integrates support for sharing, billing, and marketing products registered on social media. In particular, [we are] implementing a system to allow payments with the same UI/UX and social media.
 

Bithumb Announcement

(credit: Bitcoin.com)

The SNS Pay platform should increase the payment convenience to lower transaction costs, and the customers can use the platform to buy popular on social media products without having to search for an online store that sells them.

Illustration provided by BithumbBithumb p2p platform

Previously, we have reported that special kiosks with the ability to accept payments in virtual currencies were planned to be installed in cafes and restaurants of Korea, and , in order to stimulate the adoption of the new concept, Bithumb was going to offer several options for the franchises, which you can read about here.

Bithumb to be Public Company in USA

Reverse takeover transaction is planned to be conducted by exchange instead of ordinary IPO
23 January 2019   75

The largest South Korean cryptoexchang Bithumb announced its intention to become a public company in the United States, according to a press release.

For this purpose, a reverse takeover transaction will be concluded. Intent letter was signed by Blockchain Industries, a public company and Singapore-based BTHMB Holdings, which owns a controlling stake in Bithumb.

Upon completion of the transaction, the combined company will be called the Blockchain Exchange Alliance (BXA). However, it is possible that BXA will become the first public cryptocurrency exchange in the United States. The transaction must be completed before March 1.

The head of Blockchain Industries, Patrick Moynihan, is confident that for the blockchain industry this deal means liquidity, affordability and expansion. Also in a press release states that Bithumb intends to master the North American market.

Reverse acquisition is a transaction in which shareholders of a private firm acquire control over a public company. In this case, a public company acquires the assets of a private firm. This method is an alternative to the process of entering the companies on stock exchanges through a traditional IPO.