MoonPay launches South Korean subsidiary to expand in Asia

MoonPay has launched a new subsidiary, MoonPay Korea, to serve as a base for its expansion across the Asia-Pacific region. The company aims to leverage South Korea’s digital payment infrastructure and high demand for virtual assets to develop new financial services.

Key components of the strategy include partnerships with major local financial institutions, including Woori Bank, KB Financial Group, and KakaoBank. MoonPay intends to collaborate on stablecoin infrastructure, cross-border remittances, and digital asset services. A primary goal is to build overseas distribution channels for Korean won-denominated stablecoins, provided they are issued under the country’s evolving regulatory framework.

The company is also integrating services from Finger, a fintech firm it acquired for approximately $81 million, to assist with bank and card provider API integrations. MoonPay plans to pursue necessary licenses, including Virtual Asset Service Provider (VASP) registration, with a target for application in 2027 following Information Security Management System (ISMS) compliance.