- RedotPay introduces cryptocurrency payment cards in South Korea, enabling users to make purchases with digital assets at any VISA-accepting merchant.
- The cards support major cryptocurrencies and stablecoins, with instant payment and refund capabilities and integration with Apple Pay in Seoul.
- Crypto adoption is rising in South Korea, as political parties promise regulations and allow crypto-focused financial products.
RedotPay, a Hong Kong-based financial technology company, has rolled out its cryptocurrency-enabled payment cards for users in South Korea. The launch allows Korean consumers to use both physical and virtual debit cards loaded with digital assets at any local merchant that supports Visa, according to a May 9 report by The Korea Economic Daily.
Both the virtual card, priced at $10, and the physical card, available for $100, require basic verification such as name, address, and identification, as stated in the report. RedotPay began its global expansion after partnering with Visa and StraitsX in February 2025 to strengthen cross-border crypto payment features. The company, established in 2023, has grown quickly, now serving over 4 million users globally since it started its card program in late 2024.
The payment cards work with leading cryptocurrencies like Bitcoin and Ether, along with widely used stablecoins such as USDC and USDT. Users can fund their cards through blockchains including Solana, Polygon, BSC, Tron, and Arbitrum. The provider’s main feature is a real-time system for deducting stablecoins during purchases and processing refunds—“If a transaction is canceled, refunds in USDC or USDT are processed within minutes,” the report noted.
For users in Seoul, RedotPay offers compatibility with Apple Pay, making it accessible to more people since Apple Pay is mainly limited to Hyundai Card customers in South Korea. Social media reports confirm that customers can get started right away with a virtual card by simply verifying their identity, even without a physical card. “You can use it right away with your smartphone without a physical card by simply verifying your identity upon issuance,” a user wrote on X.
Cryptocurrency ownership is increasing in the country, with over 16 million South Koreans reportedly holding crypto. This growing interest has made digital assets a subject in national politics, as major parties have committed to introducing spot crypto exchange-traded funds (ETFs), changing banking rules for crypto firms, and establishing a stablecoin regulatory framework. Presidential candidate Lee Jae-myung recently vowed to support crypto ETFs and other measures, while the ruling People Power Party offered similar promises in late April.
For more, see The Korea Economic Daily and coverage on X.
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