MoonPay launches Korea operations as part of Asia growth push

MoonPay announced the launch of its Korean subsidiary on Tuesday, aiming to position the country as a pivotal hub for its Asian expansion. The Korean market boasts a robust ecosystem comprising banks, credit card providers, lifestyle platforms, and blockchain technology. To provide practical services, MoonPay intends to integrate its global payments and stablecoin infrastructure with Korean financial institutions.

This integration will enable offerings such as cross-border remittances, payments, and settlements, as well as the global distribution of digital assets, according to Lee Bu-geon, MoonPay's head of Asia. By leveraging familiar financial services, the demand for digital assets could expand beyond mere holding or trading. MoonPay is particularly focused on facilitating cross-border fund flows, including remittances for international students, payments by foreign residents in Korea, overseas transactions by businesses, and the global dissemination of Korean digital assets.