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Coinplug expands ATM wire transfer service via BGF finlink

Coinplug, a blockchain technology company headed by CEO Joonsun Uhr, announced Monday that it recently launched a wire transfer service in cooperation with BGF finlik, a manufacturer and operator of automatic teller machines headed by CEO Lee Jong-deok. An affiliate of BGF Retail, which operates the CU convenience store chain, BGF finlink currently operates ATMs and cash dispensers at over 10,000 convenience stores, including CU, nationwide. 

Coinplug’s ATM wire transfer service enables users to wire money without needing the receiver’s bank account number, thanks to its independently developed mobile e-wallet application. All the person making the wire transfer has to do is simply enter the amount to send and the receiver’s cellphone number into the app. By entering the verification code sent by the person who made the wire transfer, the receiver can immediately withdraw the funds from a BGF finlink ATM or cash dispenser at any convenience store, supermarket, bus station, train station or movie theater nationwide. Previously available only at select ATMs in Seoul, the wire transfer service has expanded significantly through its cooperation with BGF finlink.

Clients who use the e-wallet app also gain access to Coinplug’s other services, including Bitcoin Exchange, point conversion and OK Bitcard. Coinplug CEO Joonsun Uhr said, “With our e-wallet app, people can now use a wide variety of services easily and conveniently.”

A fintech company that researches blockchain technology, Coinplug offers a wide range of blockchain-based services, including various types of mobile authentication (e.g. document) services, mobile IDs, overseas wire transfer platforms and private blockchain technology Fidoledger. In order to give consumers greater access to blockchain technology and allow them to purchase Bitcoins, Coinplug developed the OK Bitcard prepaid Bitcoin card, which is now being sold at several convenience store chains, including 7-Eleven and Ministop.

Coinplug receives support from the Gyeonggi Center for Creative Economy & Innovation in its efforts to conduct marketing campaigns and enter foreign markets. The company also installed a Bitcoin ATM inside the center in October, enabling startups based in the building to try its services.