Emart24 And Bithumb Collaboration Present Bitcoin Food Boxes In South Korea

Emart24, announced a new partnership with local crypto exchange Bithumb to introduce a Bitcoin food box (photo: x @PiotrOstapowicz ·)

JAKARTA - South Korea's daily necessities store chain, Emart24, announced a new partnership with local crypto exchange Bithumb to introduce a new Bitcoin food box that can be purchased at the retail store.

On May 9, Emart24 and Bithumb announced that around 30,000 boxes of food will be available, which will be available towards the end of the month. Each box will sell for 5,900 Korean won (IDR 68.6 thousand).

According to a report from local media, a representative from Bithumb said that customers can receive 10,000 won (Rp117 thousand) worth of Bitcoin if they download the exchange app and enter the coupon number found in each food box.

In addition, Bithumb offers 20,000 won (IDR 234.4 thousand) worth of Bitcoin for customers who create Bitcoin accounts with NH Nonghyup banks. The spokesperson said that customers who already have accounts should link them to Bithumb to receive additional Bitcoins.

Bithumb is one of the leading crypto exchanges in South Korea. These are members of the Digital Asset Exchange Association (DAXA), along with Upbit, Coinone, Korbit, and Gopax.

Bithumb also announced plans to become the first crypto exchange to be listed on South Korea's stock exchange, although plans for an initial offering have been delayed.

The development of the Bitcoin food box follows a continuing hype over cryptocurrencies after the much-awaited halving event, which took place on April 20.

Cryptocurrencies hit new highs in March, nearly $74.000. Analysts concluded that the current price drop was due to "bullish Bitcoin" experiencing "bore" post-haling.

Bitcoin gained momentum after the United States gave the green light for Bitcoin's first exchange-traded funds on January 10.

In South Korea, on May 7, news spread that the newly elected Democratic Party promised to allow Bitcoin ETF and that the party would apply after the opening of the National Assembly in June.

However, in recent years, regulations in South Korea have paid more attention to crypto space. In 2024, legislators introduced tougher penalties for crypto-related crimes, along with new guidelines for crypto exchanges.

By the end of 2023, financial regulators in South Korea began asking crypto users in the country to report unlicensed exchanges offering services in the region.