The Hong Kong-based fintech company Redotpay has reportedly launched its cryptocurrency-enabled payment cards in South Korea and placed itself as a potential disruptive in a market dominated by traditional credit card companies and mobile payment services.
The company’s crypto card – both physical and virtual – is now accepted at all Korean merchants supporting Visa, according to a May 9th report from Korea Economic Daily.
The move marks Redotpay’s latest step in the global expansion following its previous partnership with Visa and Bin Sponsor Straitx in February 2025 to improve cross-border crypto payment options.
Redotpay, founded in 2023, has quickly scaled since the soft launch of his Crypto Card program at the end of 2024. It now serves more than 4 million users around the world.
In South Korea, users can receive a virtual card for $ 10 or a physical card to $ 100 with minimal verification requirements, including name, address and ID.
Reports on social media show that the card is currently available to Korean users. “You can use it right away with your smartphone without a physical card by simply verifying your identity by issuing,” wrote a user of X.
Related: North Korean spy slides up, revealing ties in fake job interview
Redotpay cards support larger cryptocurrencies
The Redotpay cards support larger cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) and StableCoins such as USDC (USDC) and USDT (USDT). Users can load their maps with crypto assets from several blockchains including Solana, Polygon, BSC, Tron and Arbitum.
A prominent feature is Redotpay’s real-time stable stable payment payment and refund system. When a purchase is made, stableecoins are immediately deducted from the user’s wallet.
If a transaction is canceled, reimbursement is processed in USDC or USDT within minutes.
Redotpay is also compatible with Apple Pay in Seoul, giving it an advantage in a market where Apple Pay is currently limited to Hyundai card customers. Compatibility can prove to be crucial as Redotpay challenges Korea’s established payment infrastructure.
Crypto adoption has been accelerated in South Korea, where over 16 million people allegedly have crypto. This has also made crypto an important topic in the South Korean presidential race in 2025.
On May 6, South Korea’s Democratic Party leader Lee Jae-Myung became the latest presidential candidate to promise the approval of Spot Crypto Exchange-Traded Funds (ETFS) and other crypto-friendly measures if elected.
South Korea’s reigning party, People Power Party, also reportedly gave cryptopolitics at the end of April, which included allowing Spot Crypto ETFs, disassembling Korea’s controversial one-exchange-en-banking rule and establishing a regulatory framework for stableecoins.
Magazine: Crypto would overturn the banks and now it will be those in stableecoin -fight