Hong Kong-based fintech agency RedotPay has reportedly launched its cryptocurrency-enabled cost playing cards in South Korea, positioning itself as a possible disruptor in a market dominated by conventional bank card companies and cell cost companies.
The corporate’s crypto debit playing cards—each bodily and digital—at the moment are accepted in any respect Korean retailers that assist Visa, in response to a Might 9 report by The Korea Financial Each day.
The transfer marks RedotPay’s newest step in international enlargement, following its earlier partnership with Visa and BIN sponsor StraitsX in February 2025 to boost cross-border crypto cost capabilities.
RedotPay, based in 2023, has quickly scaled for the reason that mushy launch of its crypto card program in late 2024. It now serves greater than 4 million customers worldwide.
In South Korea, customers can obtain a digital card for $10 or a bodily card for $100, with minimal verification necessities, together with identify, deal with, and ID.
Reviews on social media point out that the cardboard is at the moment out there to Korean customers. “You need to use it immediately together with your smartphone and not using a bodily card by merely verifying your id upon issuance,” one person wrote on X.
Associated: North Korean spy slips up, reveals ties in pretend job interview
RedotPay playing cards assist main cryptocurrencies
The RedotPay playing cards assist main cryptocurrencies like Bitcoin (BTC) and Ether (ETH) and stablecoins akin to USDC (USDC) and USDt (USDT). Customers can load their playing cards with crypto property from a number of blockchains, together with Solana, Polygon, BSC, Tron, and Arbitrum.
One standout characteristic is RedotPay’s real-time stablecoin cost and refund system. When a purchase order is made, stablecoins are deducted immediately from the person’s pockets.
If a transaction is canceled, refunds in USDC or USDT are processed inside minutes.
RedotPay can be appropriate with Apple Pay in Seoul, giving it an edge in a market the place Apple Pay is at the moment restricted to Hyundai Card clients. The compatibility might show essential as RedotPay challenges Korea’s established cost infrastructure.
Crypto adoption has been accelerating in South Korea, the place over 16 million folks reportedly maintain crypto. This has additionally made crypto a key subject within the 2025 South Korean presidential race.
On Might 6, South Korea’s Democratic Celebration chief Lee Jae-myung turned the newest presidential candidate to vow the approval of spot crypto exchange-traded funds (ETFs) and different crypto-friendly measures, ought to he be elected.
South Korea’s ruling get together, the Folks Energy Celebration, additionally reportedly made crypto coverage guarantees in late April, which included permitting spot crypto ETFs, dismantling Korea’s controversial one-exchange-one-bank rule, and establishing a regulatory framework for stablecoins.
Journal: Crypto needed to overthrow banks, and now it’s turning into them in stablecoin struggle
