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.