MoonPay Establishes Korean Subsidiary, Betting on Seoul as APAC Expansion Hub

Odaily News — Crypto payment company MoonPay has established a subsidiary in South Korea, MoonPay Korea, and plans to use South Korea as the hub for its APAC business expansion.

The company has partnered with KakaoBank, Woori Bank, and KB Financial Group, with related businesses covering cross-border payments, Korean won stablecoin distribution, wallet services, and crypto asset on/off-ramps. MoonPay previously signed a memorandum of understanding with Woori Bank to support global distribution of Korean won stablecoins, cross-border settlement, wallet integration, and currency exchange infrastructure. In addition, MoonPay will apply for the necessary licenses in South Korea and push for further integration of its services into the local Korean financial system.