South Korea is introducing new initiatives related to cryptocurrency. Emart24, a convenience store in South Korea, has partnered with local cryptocurrency exchange, Bithumb, to offer Bitcoin Meal Boxes to customers. The collaboration aims to give customers the opportunity to win small amounts of Bitcoin with every purchase.

On May 7, 2024, a newly elected democratic party in South Korea announced plans to allow Bitcoin ETFs, making it easier for people to invest in Bitcoin. However, the country is also strengthening regulations on cryptocurrency to prevent crimes related to it. The South Korean government has been investigating unlicensed exchanges and taking strict actions against them.

Emart24 and Bithumb have announced that 30,000 Bitcoin meal boxes will be available by the end of May 2024, priced at 5900 Korean won each. These meal boxes offer customers a chance to win Bitcoin. Bithumb acts as a link between customers and Emart24, facilitating Bitcoin transactions through the meal boxes.

Bithumb

Bithumb is a prominent local cryptocurrency exchange in South Korea that allows users to engage in various cryptocurrency activities such as buying, selling, and trading. The exchange is a member of DAXA (Digital Asset Exchange Association) along with other exchanges. Bithumb is also planning to list itself on the Stock Market of the crypto exchange, although initial public offerings have been delayed.

Local Media Insights on Bitcoin Meal Box

According to local media reports in South Korea, customers can win approximately 10000 worth of Bitcoins by downloading the Bithumb app and entering the coupon code found in the meal boxes. Bithumb also offers 20000 worth of Bitcoin to new customers who open a Bitcoin account with NH Nonghyup Bank. Existing customers can receive extra Bitcoin by linking their current account with Bithumb.

Impact of Bitcoin Halving on Bitcoin Meal Boxes

The Bitcoin meal boxes gained popularity after the Bitcoin halving event on April 20, 2024. Following the halving event, there were fluctuations in the price of Bitcoin, with the market analysts noting a dip in prices. The market experienced surges during halving events but prices then steeply fell, causing Bitcoin bulls to face challenges.