South Korean convenience store chain Emart24 revealed a new partnership with local cryptocurrency exchange Bithumb to introduce a new Bitcoin “meal box” available for purchase in-store.
On May 9, Emart24 and Bithumb said there will be approximately 30,000 of the meal boxes, which will be available by the end of the month. Each box will sell at 5,900 Korean won (USD $4.30).
According to reports from local media, a representative from Bithumb said that customers could receive 10,000 won worth of Bitcoin (BTC) if they download the exchange’s app and enter the number of the coupon found in each meal box.
Additionally, Bithumb is offering 20,000 won worth of Bitcoin for customers who create a Bitcoin account with the NH Nonghyup bank. The spokesperson said that customers who already have an account must connect it to Bithumb to receive the additional Bitcoin.
Bithumb is one of South Korea’s leading cryptocurrency exchanges. It is a member of the Digital Asset Exchange Association (DAXA), along with Upbit, Coinone, Korbit and Gopax.
It also announced plans to become the first crypto exchange listed on the South Korean stock market, though its plans for an IPO have been delayed.
This Bitcoin meal box development follows continued hype over the cryptocurrency after the long-awaited halving event, which took place on April 20.
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The cryptocurrency hit a new all-time high in March, almost passing $74,000. Analysts are concluding that the current dip in price comes as Bitcoin bulls suffer “boredom” post-halving.
Bitcoin gained momentum after the United States greenlit its first Bitcoin exchange-traded funds (ETFs) on Jan. 10.
In South Korea, on May 7, news broke that the newly elected democratic party is promising to allow Bitcoin ETFs and that the party would be making the request after the opening of the National Assembly in June of this year.
However, over the last many years regulations in South Korea have been keeping a closer watch on the crypto space. This year legislators introduced tougher sentences for crypto-related crimes, along with new guidelines for cryptocurrency exchanges.
Late last year, financial regulators in South Korea began asking crypto users in the country to report any unlicensed exchanges offering services in the region.
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