As athletes from around the world compete in the 2018 Winter Olympics in Pyeongchang, South Korea, at least one merchant sees an opportunity to boost profits by adding cryptos to the list of its accepted form of payments.
The merchant is Yongpyong Ski Zone, a ski rental shop that sells top-line ski apparel and Olympic souvenirs. Not all cryptos are accepted; just Ethereum. However, it shows how cryptos are still held in high regards by many South Koreans despite South Korean lawmakers’ hard stances on cryptocurrencies.
Yongpyong Ski Zone is reported to be the only merchant to be accepting any form of cryptos as payment during the Games. A Forbes’ contributor spoke to the manager of the shop and wrote:
It may give them peace of mind that they are not actually handling the Ethereum. Instead, users transfer cryptocurrency worth the Korean won equivalent through new local payment platform Coinduck, which in turn transfers the same Korean won amount to the store for a small…