Chinese online shopping platform accepts bitcoins as a payment option
Authorization
Sign in with:
15:43

Chinese online shopping platform accepts bitcoins as a payment option

11.01.2018 Chinese online shopping platform accepts bitcoins as a payment option Almaty. January 11. Silkroadnews - The Chinese online shopping platform has begun to accept Bitcoins as a payment option, the Global Times write.
“Chinese online shopping platform LightInTheBox Holding Co announced it has started to accept Bitcoin as a payment option on its two shopping platforms, ligtinthebox.com and miniinthebox.com,” the report reads.
LightInTheBox, delivering products directly from manufacturers to consumers around the world, was the first e-commerce platform in China that starts accepting the virtual currency that has not yet been approved by regulatory authorities in many countries, including China.
An online store based in Beijing said it decided to accept bitcoins as a payment option because of the potential for the technology behind the bitcoin and other crypto-currencies known as blockchain.
“We think blockchain could potentially be an important technology for us. We are intrigued to study and adapt this technology in the future,” the agency quoted Guo Quji, chairman and CEO of LightInTheBox, saying.
The company said that it began accepting bitcoins on Friday, payments made in bitcoins are processed through BitPay, yet the company’s officials did not say anything about the real value of bitcoin payments.
Nevertheless, the announcement caused a big jump in the price of LightInTheBox shares on the New York Stock Exchange. By the market close on Monday, shares rose 13.31% to $2.81.


Partners