Mecon Community, a Korean company specializing in Information Technology, announced on January 18th, 2018, that it would soon be possible to withdraw Korean Won (Korean currency) from ATM in Korea with their cryptocurrency project “MeconCash”.

The agreement, which was signed on January 17th, 2018 with an ATM system operating company, enables cash withdrawals through ATMs installed in more than 13,000 convenience stores nationwide.

There have been cases of ATMs with only-cryptocurrency withdrawals in the past, but direct cash withdrawals have not been put to practical use due to various technical solutions and commercial viability.

MeconCash has enabled ATM cash withdrawals because it introduced a mobile-only one-time password authentication system that will be installed in 13,000 ATMs nationwide.

Jae-Do Cho, Chairman of the Mecon Community, said, “The foundation of MeconCash is aimed at realizing MeconCash as the use of real money, we will continue to expand to the market to serve as a cryptocurrency that can be used anytime and anywhere.”

The Chairman also stated, “We want the launch of this ATM withdrawal service to serve as an example of revitalizing and pioneering the domestic and international cryptocurrency market.”

The ATM cash withdrawal service is scheduled to be implemented in February.

MeconCash Information:

MeconCash Official Website: https://www.meconcash.com

MeconCash Official Email: [email protected]

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