Skip to main content
110% Deposit Bonus from mBit

What LTC Withdrawals in 13K South Korean ATMs Mean for Crypto iGaming

South Korea is making a big leap toward crypto adoption as it prepares to enable Litecoin (LTC) withdrawals in thousands of ATMs in the country. But how is this relevant to the crypto iGaming sector?

Litecoin Foundation and MeconCash have paved the way for LTC holders in South Korea to withdraw their crypto in Korean won (KRW) in real-time and without using an online cryptocurrency exchange.

By giving LTC users the power to swap LTC for quick cash, MeconCash, through its own M.Pay platform, allows LTC users to send remittances. They can also purchase products on MeconMall and pay for M.Pay-supported mobile games.

MeconCash Chairman Jo Jae Do said:

“Through our partnership with Litecoin Foundation, we will grow the presence of Litecoin throughout the Korean market starting with the ATM withdrawal services. And with Litecoin Foundation as our partner, we are expecting to grow globally and see positive synergies in the upcoming future not only in the Korean market but also in the global market.”

With this large-scale business model, Litecoin creator Charlie Lee sees this partnership as an effective way to bring LTC closer to the people and strengthen its hold in the South Korean market.

Meanwhile, the crypto iGaming industry sees this development as an opportunity for crypto gaming to attract new players in countries where online gambling and betting is allowed.

Adoption is one of the main challenges even crypto casino and sports betting operators face. Because the process of buying crypto and exchanging them for fiat money can be too daunting, some players choose to not enter the world of crypto and blockchain gaming.

If more institutions and companies will follow the steps taken by the Litecoin Foundation and MeconCash, then more users will learn how convenient using cryptocurrency is, whether for purchasing items, receiving remittances, or placing bets online.

Allowing instant conversion from crypto to fiat money upon withdrawal from a local ATM will benefit Bitcoin casino players and sports bettors. They can simply go to the nearest ATM, then withdraw their crypto winnings like how some players would take out their funds from top Litecoin casinos today.

Do you look forward to cashing out your crypto winnings using an ATM? Follow on Twitter to never miss any news and developments in crypto and blockchain gaming.


If you’re interested in getting an updated 2020 list of all Bitcoin casino reviews for this market, check out the casino review section.

1xBit Live Gaming Cup Play with Cryptos



Top Esports Betting Platforms You Should Choose in 2021

January 25, 2021

Get your guaranteed exhilarating esports betting experience when you place your bets on these top esports betting platforms in 2021.

BGaming’s Fruit Million Slot Returns With New Look

January 22, 2021

It may have started as a Christmas slot, but BGaming's Fruit Million slot is back with a new classic look! Expect it to change to even more looks soon.

Win 50 mBTC When You Win 10 Bets in a Row on EPL at FortuneJack

January 20, 2021

The English Premier League continues! At FortuneJack, you're guaranteed to get 50 mBTC when you win 10 consecutive bets on Premier League matches.


Interview with Eman Pulis, Founder of SiGMA

July 14, 2020

We had the opportunity to talk to Eman Pulis, founder of SiGMA, a highly-successful iGaming expo and conference home to 14000 attendees and 500 exhibitors.

Interview with Gregor Rozic, Sales Manager at GameART

July 7, 2020

We’ve had the opportunity to talk to GameART Sales Manager Gregor Rozic, who has 10 years of experience in online gaming on casino and poker content.

Interview with Magnus Leppäniemi, VP of Marketing & Head of Esports at Esports Entertainment Group

June 30, 2020

We had the opportunity to talk to Magnus Leppäniemi, VP of Marketing & Head of Esports at Esports Entertainment Group and member of Advisory board.

Your Message

Please enter your email address:

No account yet? Register here
Forgot Password? Click here
Already have an account? Login
Forgot Password? Click here