MoonPay Launches Korea Unit With Three Financial Groups

MoonPay said it launched its South Korean subsidiary, MoonPay Korea, on September 29, 2026, and is working with Woori Bank, KB Financial Group and KakaoBank on cross-border payments and digital-asset services. The initiative is at an early stage: the companies plan to test proposed services, and MoonPay says it must obtain required licenses and registrations before expanding its Korean operations. The collaboration is intended to connect MoonPay’s payments and digital-asset infrastructure with local financial systems. The potential uses include remittances, business payments and settlement, and services involving stablecoins. The companies have described areas of cooperation, but the reports do not establish that the proposed services are live or available to customers. One proposed model with KakaoBank would handle transfers from South Korea to U.S. bank accounts, including remittances for students abroad. Under the plan described by MoonPay, KakaoBank would process the application and related checks in Korea, while MoonPay would handle digital-asset conversion and settlement to a U.S. account.