TRON arrives at ATMs in South Korea
The tentacles of the TRON ecosystem continue to expand its reach around the world. TRON’s latest venture was to join forces with MeconCash, making TRX and JST interchangeable with Korean Won at ATMs across the country. More than 13,000 ATMs will support cryptocurrency swaps, while TRON seeks to seal its status as versatile digital money for people.
TRON and its native currency TRX has broad support across Asia, where Justin Sun can be found actively extolling the virtues of the blockchain ecosystem he founded and its future update.
TRON 4.0 will bring privacy features, greater scalability and customizable side chains for businesses. In the here and now, however, TRON users are still primarily consumers who use TRX to interact with dApps on the network, trade on exchanges and purchase goods and services.
According to the company’s official channel, TRON can now be withdrawn from thousands of ATMs in South Korea. Now citizens of the tech-savvy country and cryptocurrency enthusiasts can exchange TRX and JST for the local Won as and when they need it.
“TRON is excited to start working together with MeconCash,” reported Justin Sun. “The rise of crypto payment systems is already here, and our mission is to help ordinary people access this simple and convenient payment method at your everyday life. ”
Use in the real world?
JST is the governance token of the cryptocurrency lending system that is being built at TRON. It performs a number of functions, including paying interest, maintaining the platform and participating in governance through voting, making it part of a $ 2.6 billion vertical base in on-chain governance.
The token, which was issued via an IEO at Poloniex in May, will be sent to TRX holders over the next two years. As a result, TRX holders are also likely to own JST, making the pair’s integration into 13,000 ATMs a boon for South Korean token holders.
Currently cryptocurrency users who need money in a hurry are limited to using crypto debit cards, such as Wirex and MCO (by Crypto.com).
This allows the cryptocurrency to be exchanged for fiat in the corresponding mobile application and the balance then withdrawn from an ATM. The process takes place in several stages, and users tend to be penalized for conversion and sometimes withdrawal fees, which makes crypto cards unsuitable for small and frequent withdrawals.
Thanks to the integration of TRON with MeconCash, tourists and residents of South Korea will be spared the complicated withdrawal procedures when they need to convert their cryptocurrency into a fiat. MeconCash is a cryptocurrency platform used for payments, rewards and digital transactions.
It enjoys deep integration in ATMs, game applications, mobile services and e-commerce within the country. It is also used for payments at several leading cosmetic clinics in the country. TRX holders can now connect to this ecosystem, making their digital assets expendable at companies across the country.