South Korea's leading cryptocurrency exchange Bithumb has announced the upcoming launch of SNS Pay, a peer-to-peer (P2P) payment platform optimized for social media platforms and blogs. This innovative service aims to streamline transactions while partnering with over 600 brands to offer 125,000 mobile coupons to users.
Key Features of SNS Pay
1. Seamless Social Media Payments
Bithumb, currently the second-largest crypto exchange in South Korea, describes SNS Pay as an "all-in-one platform" integrating:
- Social sharing
- Instant settlement
- Product marketing support
The platform will enable payments through a unified UI/UX across multiple social channels without redirecting users to external e-commerce sites.
"SNS Pay eliminates checkout friction, boosting conversion rates while reducing transaction costs," stated a Bithumb representative.
2. Strategic Partnership with Wincube Marketing
Bithumb has teamed up with Wincube Marketing, a major Korean e-commerce and coupon provider, to offer:
- Discounted mobile coupons from 600+ brands
- Gift card purchases using KRW or cryptocurrencies
Why This Matters for South Korea
- Social Media Penetration: 84% of South Korea’s 51.1 million population are active social media users (UN/Statista).
- Popular Platforms: Over 43 million users engaged with KakaoTalk in mid-2023.
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Supported Cryptocurrencies on Bithumb
Bithumb currently lists 15 major cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- EOS, ICON, TRON, and others
FAQ Section
1. What is SNS Pay?
A P2P payment system allowing users to shop directly on social media platforms without leaving the app.
2. Which brands support SNS Pay?
600+ partners via Wincube Marketing, including retail and service providers.
3. Can I use cryptocurrencies to buy coupons?
Yes, Bithumb accepts both KRW and crypto for coupon purchases.
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Disclaimer: This content is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry risks; always conduct independent research.
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