MoonPay Launches South Korean Unit to Expand Asia-Pacific Crypto Payments
MoonPay Korea will target remittances, payments, settlement and digital-asset distribution while developing infrastructure with Korean financial institutions.
MoonPay launched a South Korean subsidiary in Seoul on Sept. 29 to connect its global crypto-payment and stablecoin infrastructure with Korean financial institutions and support expansion across Asia-Pacific.
MoonPay Korea will focus on overseas remittances, payments, settlement and the global distribution of digital assets. The unit will work with Korean financial institutions and companies as MoonPay develops its regional business.
The company’s Korean strategy includes infrastructure for stablecoins denominated in South Korean won. MoonPay signed a memorandum of understanding with Woori Bank on April 30 to explore global distribution, cross-border settlement, wallet access and currency conversion for potential won-backed stablecoins.
The agreement covers potential infrastructure and does not announce a live won-backed stablecoin or a plan for MoonPay to issue one. MoonPay’s role is centered on distribution, settlement and related infrastructure in cooperation with financial institutions.
Bugeon Lee, a MoonPay founding executive, will lead Asia-Pacific operations from Seoul and work with Korean regulators, banks and enterprise partners.
“Korea's regulatory clarity, scale, and technological sophistication create a powerful foundation for stablecoin adoption,” Lee said.
Lee said regulated won issuance combined with MoonPay’s global distribution and settlement network could help Korean institutions extend the won’s reach into digital commerce.
MoonPay CEO and founder Ivan Soto-Wright said stablecoins are becoming “the backbone of digital finance” and described Korea as one of the world’s most forward-looking markets.
