Emurgo has announced that its Cardano ADA currency will be incorporated into South Korea’s Metaps Plus. Emurgo is a blockchain startup with its headquarters in Japan.
Metaps Plus
Metaps Plus is a leading payment and mobile ad platform in South Korea. The platform will now start accepting ADA tokens. Metaps Plus offers more than 10 million mobile to offline transactions and more than 1 billion downloads every year. The platform has 40,000 offline stores. The partnership will entail adding ADA tokens into the Metaps Plus platform. According to a press release from Emurgo, this integration will be implemented in the third quarter of 2018.
The expected impact
The possible outcome from this partnership on ADA can be looked at from the perspective of what Metaps Plus can offer. South Korea is one of the countries where digital currencies have found a fertile ground. It is one of the countries that have the highest number of crypto investors around the world. This means Cardano will be entering a ready and ripe market.
Additionally, it is possible that Cardano will form a big portion of all the transactions in the more than 40,000 stores spread across the country.
The partnership is an indication of the central position that Emurgo occupies in Cardano. Emurgo has continually played a big role bringing together businesses and has enabled Cardano to offer many of its products to the international market. One of Emurgo’s main targets is to bring commercial partners that will which to use Cardano’s blockchain technology in their industries and companies on board.
Cardano market performance
Just like the larger digital currency market, Cardano’s ADA has been gaining since the start of the year. It is currently trading at $0.308. Cardano’s market cap has dropped to $8 billion from $9.6 billion. Additionally, the daily trading volumes have dropped from around $300 million worth of ADA traded on May 3, 2018 to around $142 million traded on May 8, 2018.
This should be a big cause for worry among investors. However, many are relating the drop to the trend in the wider market. From a wider perspective and considering events in the market, the coin may yet recover lost value.