Galaxia Moneytree Launches Bitcoin Payment Service with Delio: "Instant Payments Available at Cafes and Convenience Stores"
[Asia Economy Reporter Hyunseok Yoo] Fintech specialist Galaxia Moneytree announced on the 21st that it has launched a Bitcoin payment service on its digital asset exchange platform, 'Moneytree.'
This service enables everyday Bitcoin payments in daily life. Delio users can immediately pay for products through the Moneytree platform using their Bitcoin holdings. Available usage locations include over 15 franchise stores, including major convenience stores and cafes.
Since its launch in 2017, 'Moneytree' has surpassed 3.5 million cumulative downloads and 2 million users. Earlier this year, Moneytree signed a memorandum of understanding (MOU) with DeFi specialist Delio to develop a transfer system for exchanging virtual assets between the two companies to support Moneytree's virtual asset payment service.
Delio is the largest DeFi company in Korea, having surpassed 2 trillion KRW in Bitcoin TVU (Total Value Utilized). A Delio representative stated, "If customers hold or deposit Bitcoin in their wallets, they can make payments directly with Bitcoin at Moneytree affiliated stores without going through complicated coin conversion processes."
This service is the first case in Korea where an electronic payment company has applied Bitcoin payments to real-life use. Overseas, global electronic payment company PayPal launched a cryptocurrency payment service in March. The American electric vehicle company Tesla has also adopted Bitcoin as a payment method.
A Galaxia Moneytree representative said, "The distinguishing feature is the ability to make immediate Bitcoin payments, and it is meaningful that a true Bitcoin payment service has been commercialized," adding, "We believe it has various potential growth opportunities in the future."
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They continued, "Starting with convenience stores and cafes, we will expand the available payment locations to various franchises," emphasizing, "We will strive to stabilize the service and establish it as an innovative and new payment method."
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