MoonPay Brings Digital Asset Rails to South Korea's Legacy Banking Network
MoonPay has launched its local subsidiary MoonPay Korea in partnership with KakaoBank, Woori Bank, and KB Financial Group. The official launch took place on September 29, 2026.
The framework with KakaoBank aims to process remittances to U.S. bank accounts within one hour, while earlier pilot tests by KB Financial to Vietnam logged execution times below three minutes.
In KB Financial's cross-border trials using won-backed assets and on-chain dollars, transaction fees dropped by 87% compared to traditional SWIFT benchmarks.
The objective of this setup is to bridge South Korea's legacy banking network with international digital asset rails. Each banking partner will explore dedicated technical use cases ranging from student remittance processing to enterprise trade settlement.