RedotPay, a Hong Kong-based fintech firm, has made a significant move in the South Korean market by launching its cryptocurrency-enabled payment cards, posing a challenge to the dominance of traditional credit card companies and mobile payment services. The company's crypto debit cards, available in both physical and virtual forms, are now accepted at all Korean merchants that support Visa, as reported by The Korea Economic Daily on May 9.

This development marks a key milestone in RedotPay's global expansion strategy, which began with a partnership with Visa and BIN sponsor StraitsX in February 2025 to enhance cross-border crypto payment capabilities. Established in 2023, RedotPay has experienced rapid growth since the soft launch of its crypto card program in late 2024, now boasting over 4 million users worldwide.

In South Korea, users have the option to obtain a virtual card for $10 or a physical card for $100, with minimal verification requirements including name, address, and ID. Reports on social media confirm that the card is currently accessible to Korean users, offering a seamless payment experience through smartphone verification upon issuance.

RedotPay's cryptocurrency-enabled cards support major digital assets such as Bitcoin (BTC), Ether (ETH), and stablecoins like USDC and USDT. Users can load their cards with crypto assets from various blockchains, including Solana, Polygon, BSC, Tron, and Arbitrum. One of the standout features of RedotPay's offering is its real-time stablecoin payment and refund system, ensuring instant deductions for purchases and quick refunds in USDC or USDT for canceled transactions.

Moreover, RedotPay's compatibility with Apple Pay in Seoul gives it a competitive edge in a market where Apple Pay is currently limited to Hyundai Card customers. This compatibility is expected to be crucial as RedotPay strives to disrupt Korea's established payment infrastructure.

The move comes at a time when crypto adoption is on the rise in South Korea, with reports indicating that over 16 million people in the country hold cryptocurrencies. This growing interest in digital assets has also made crypto a prominent issue in the 2025 South Korean presidential race.

Political leaders such as South Korea's Democratic Party leader Lee Jae-myung have pledged to approve spot crypto exchange-traded funds (ETFs) and implement other crypto-friendly measures if elected. The ruling party, People Power Party, has also made promises related to crypto policies, including allowing spot crypto ETFs, revising Korea's one-exchange-one-b

Source: https://cointelegraph.com/news/redotpay-crypto-payment-cards-south-korea?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound