South Korea: Introduced cryptocurrency paymen method in CU c-stores

CHAI, operating on Terra blockchain, will be accepted as a payment method in about 13,500 CU convenience stores.

South Korean mobile payment app CHAI, operating on Terra blockchain, is introducing a system of blockchain-based cryptocurrency payment method in over 13,500 CU convenience stores.

Terra blockchain stated in a press release that CHAI would be acceptable as a viable mode of payment at CU- the prime convenience store chain in South Korea, owned by BGF Retail.

CHAI will provide a 5-10% discount to its costumers along with a small transaction fee to the merchants.

In addition, BGF claims to have acquired a partnership with South Korea’s biggest payment processor, BC Card and will have them issue a prepaid debit card by the beginning of the next year.