MoonPay Expands into Korea as Asia Hub

MoonPay has launched its Korean subsidiary as part of its Asia expansion plans. The company aims to establish Korea as a key hub for its growth in the region.

The move follows MoonPay's acquisition of Finger, one of Korea's first-generation fintech companies, in April for 110 billion won ($81 million).

MoonPay plans to connect its global payments and stablecoin infrastructure with Korean financial services to offer practical services such as cross-border remittances, payments, settlement, and the global distribution of digital assets.

Lee Bu-geon, MoonPay's head of Asia, said that Korea has a well-developed ecosystem spanning banks, credit card companies, lifestyle platforms, and blockchain. He emphasized the potential for on-chain financial services to expand significantly if people can send, receive, and make payments through familiar financial services.