MoonPay Launches MoonPay Korea

MoonPay is expanding into one of the world's most dynamic digital asset markets. Today, we're announcing the launch of MoonPay Korea alongside new partnerships with three of South Korea's leading financial institutions: KakaoBank, Woori Bank, and KB Financial Group to bring stablecoin payments and digital asset services to the region.

MoonPay Korea will lead local service development and serve as a base for our expansion across Asia. Together with our banking partners, we're combining MoonPay's global payment network with deep Korean banking expertise to build cross-border payment rails, global distribution channels for won-pegged stablecoins, and digital asset services for both individuals and institutions.

"Korea has an opportunity to turn its strength in digital payments into a larger role in onchain finance," said Bugeon Lee, Head of APAC at MoonPay. "Won-backed stablecoins could extend the reach of Korean financial institutions and give businesses new ways to transact across borders. Working with these banking partners, our ambition is to build that infrastructure in Korea and make it a foundation for growth across Asia."

KakaoBank: Targeting Korea-to-U.S. Transfers

Our partnership with KakaoBank, a leading South Korean digital bank, is focused on blockchain-based overseas remittances, cross-border payments, and multi-currency stablecoin services. The proposed model pairs KakaoBank's domestic financial services and compliant remittance procedures with MoonPay's overseas receipt, conversion, and payout infrastructure.

We're starting with a proof of concept built around a common real-world need: international students sending money home or receiving support from abroad. The test will cover a full transfer from Korea to a U.S. bank account from initiating the transfer, through stablecoin conversion, to final deposit in U.S. dollars.