Cryptocurrency News Today – Headlines for July 5

bitcoin-atm
  • Tron can be withdrawn from 13,000 ATMs in South Korea
  • Cryptocurrency can now be exchanged for fiat and withdrawn at the ATM
  • Koreans can swap TRX and JST for their native currency Won

Tron News Today – Tron has continued to extend its global reach. Recently, the network joined forces with MeconCash to make TRX and JST exchangeable for South Korean Won at 13,000 ATM’s in South Korea. Trons’ TRX digital currency has support across the Asian continent. Justin Sun has been actively promoting his Blockchain ecosystem and its forthcoming upgrade in Asia. Tron 4.0 upgrade will bring enterprises privacy features, better scalability, and customizable side-chains. Currently, Trons users are primarily consumers who use the TRX token to interact with dApps on Tron’s network, buy goods, pay for services, and trade on exchanges.

Tron Arrives Comes to South Korea

Tron announced that it can now be withdrawn from 13,000 ATMs in South Korea. The citizens of the country can now swap TRX and JST for Won when they need to and withdraw from any of the ATM’s. JST is the token of the crypto collateralized lending initiative built on the Tron Blockchain. It performs many roles, including paying interest, participating in governance via voting and platform maintenance. This makes it part of a $2.6 billion vertical based on on-chain governance.

The token was issued through an IEO on Poloniex back in May 2020. It is currently being airdropped to Tron holders in the next two years. Hence, TRX holders will likely own JST ultimately making the integration of both tokens into 13,000 ATMs a milestone for token-holders in South Korea. Presently, crypto users who need cash quickly are limited to using only crypto debit cards like Wirex and MCO.

Cryptocurrency Can Now be Exchanged for Fiat and Withdrawn at the ATM

These developments allow crypto to be exchanged for fiat in the corresponding mobile application after which the balance is withdrawn from one of the ATMs. This process has many steps. Users are more prone to facing penalties via conversion and withdrawal fees. In turn, crypto cards become unsuited to small and regular cash withdrawals. Because of Tron’s integration with MeconCash, both tourists, and indigenes of South Korea won’t have to worry about convoluted cash-out methods when they need to change their crypto to fiat currency.

MeconCash is a digital currency platform that is used to facilitate payments, rewards, and transactions. The network enjoys integration into ATMs, mobile services, and gaming apps as well as e-commerce in the country. It is used for payments in some leading cosmetic clinics in South Korea. TRX holders now have the option to plug into the ecosystem and make their digital currency spendable at businesses in the country.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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