Goto Mall accepts Bitcoin

Goto Mall, the largest underground shopping mall in South Korea, has partnered with a local cryptocurrency exchange to let its 620 stores to accept bitcoin
27 November 2017   2666

Goto Mall which is also known as Gangnam Terminal Underground Shopping Center recently announced that it will start accepting bitcoin. The company has entered into a partnership with a local cryptocurrency exchange HTS Coin. The exchange, which opened last month, has created a smart payment system using cryptocurrencies and has recently launched a mobile app.

Customers will be able to pay with bitcoin at the mall’s 620 stores by mid-December.

I think it is very meaningful to be able to settle the bitcoin used by foreigners and young people at Goto Mall.

 

Chung Gwi Yeon

CEO, Goto Mall

The mall currently has an estimated 500,000 visitors per day, however, the mall’s foot traffic is expected to increase significantly due to its surrounding area being renovated to increase customer base.

The mall had previously tried to apply bitcoin as a payment option. However, store owners often lost their passwords and could not use the coins, the HTS Coin system rule out this possibility. Bitcoin will be offered alongside other payment methods accepted by the mall such as cash, credit card, and Alipay.

Binance to Launch BTC-Pegged Own Chain Based Token

In this way exchange wants to transfer crypto based on own blockchains to its ecosystem and  increase liquidity and trading volumes at Binance DEX
17 June 2019   158

In the coming days, Binance Exchange will launch a series of BEP2-tokens, tied to different cryptocurrency rates, on its own Binance Chain blockchain. The first token of this type will be BTCB - its rate is tied to Bitcoin.

BTCB is backed with bitcoins located in Binance reserves. The address for storing bitcoins has already been made publicly available, so that users can verify that the token has the necessary support.

In the future, the BTCB / BTC trading pair will be launched on Binance.com. With its help, users will be able to convert the original cryptocurrency into the Binance Chain token. The price spread in this case will be about 0.1%.

According to Binance, in this way it can transfer cryptocurrencies based on its own blockchains to its ecosystem and currently not represented in the Binance Chain. The company expects the launch of new tools to increase liquidity and trading volumes at Binance DEX.

While this approach is more centralized than atomic swaps, we believe it provides a higher degree of ease-of-use to most traders. And most traders are already trusting Binance.com to hold their funds anyway.
 

Binance Team

To date, Binance has independently reserved 9,001 BTC and released 9,001 BTCB. The BTCB / BTC trading pair on Binance.com will tentatively appear within a day, and an asset will be added to Binance DEX after approval of the relevant offer.