Woori Bank enters crypto airline ticket payment market

Woori Bank has become the first major South Korean bank to enter the market for cryptocurrency-based airline ticket payments, The Korea Economic Daily reported. Under the new system, when an airline accepts payments in cryptocurrencies like Bitcoin, Woori Bank will manage the settlement process. According to sources in the airline industry, this model, where the bank's Woori Safe Settlement service handles the reconciliation between payment and ticketing, enables the sale of tickets at highly competitive prices.