MoonPay, a crypto payments company founded in 2019, said on September 29 it had launched a South Korean subsidiary and planned to use the country as a base for expansion in Asia.

The company said it would expand services such as remittances, payments, and digital-asset distribution after meeting local regulatory requirements.

MoonPay said it was seeking partnerships with Woori Bank, KB Financial Group, and KakaoBank.

It is targeting cross-border flows such as remittances for international students, payments by foreign nationals in Korea, overseas business payments, and the global distribution of Korean digital assets.

In April, MoonPay said it teamed up with Kosdaq-listed Sungho Electronics and its largest shareholder, Seoryong Electronics, in a 110 billion won (about US$81 million) deal to acquire Finger, a first-generation Korean fintech company.

MoonPay separately said the investment was aimed at laying groundwork for a Korean won stablecoin ecosystem.

The move comes as remittance research in South Korea points to migrants as a studied group for cross-border transfer services.

🔗 Source: The Korea Times

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