MoonPay Partners with Korean Banks for Won Stablecoin Distribution System
MoonPay has launched MoonPay Korea and established partnerships with Woori Bank, KB Financial Group, and KakaoBank to build a won stablecoin distribution system. The company aims to create cross-border payments and digital asset infrastructure in South Korea.
The three Korean financial institutions will work together with MoonPay on stablecoin issuance, fiat on-and-off ramps, wallets, and overseas remittance settlement. Finger, acquired by MoonPay in April 2026, will provide part of the technical connection between MoonPay and Korean banking systems.
Korean banks are already testing won stablecoin rails. KB Financial Group tested stablecoin payments in May, covering issuance, offline QR payments, merchant settlement, and an overseas remittance to Vietnam that completed in under three minutes with fees roughly 87% lower than a conventional SWIFT-based transfer.