Thomas Daniels
Hong Kong-based fintech company RedotPay has officially introduced its cryptocurrency-enabled payment cards in South Korea, aiming to disrupt the country’s entrenched payment infrastructure with real-time stablecoin transactions.
The crypto debit cards, available in both physical and virtual formats, are now accepted across all Korean merchants supporting the Visa network. This move aligns with RedotPay’s broader global expansion strategy and follows its February 2025 collaboration with Visa and BIN sponsor StraitsX to strengthen cross-border crypto payment capabilities.
Founded in 2023, RedotPay has experienced rapid growth, now serving over four million users globally since the soft launch of its card program in late 2024. In South Korea, consumers can acquire a virtual card for $10 or a physical one for $100. Registration requirements remain minimal, with users needing only to verify their name, address, and ID.
The cards support major cryptocurrencies such as Bitcoin (BTC) and Ether (ETH), alongside stablecoins including USDC and USDT. They can be loaded with digital assets from several leading blockchains, including Solana, Polygon, Binance Smart Chain (BSC), Tron, and Arbitrum.
Among the platform’s key features is a real-time stablecoin payment and refund system. Transactions are settled instantly in stablecoins, while cancellations trigger near-immediate refunds in USDC or USDT. This positions RedotPay as a compelling alternative in the competitive digital payments sector.
Furthermore, the cards offer compatibility with Apple Pay in Seoul—a market where Apple Pay usage is still largely restricted to Hyundai Card customers. This integration could prove pivotal as RedotPay seeks to capture market share from South Korea’s traditional credit and mobile payment providers.
Crypto adoption continues to surge in South Korea, with more than 16 million residents reportedly holding digital assets. This momentum has made cryptocurrency a central issue in the ongoing 2025 presidential race. Political leaders from both major parties have pledged regulatory reforms, including the approval of spot crypto exchange-traded funds (ETFs) and the introduction of new stablecoin policies.
As South Korea’s digital economy evolves, RedotPay’s entry signals a broader shift toward crypto-powered financial solutions poised to challenge the conventional banking and payments ecosystem.
