MoonPay has officially established a South Korean subsidiary, MoonPay Korea, which was launched on September 29 at the Conrad Hotel in Seoul. This expansion aims to strengthen the company's presence in the Asia-Pacific region by focusing on stablecoin infrastructure and cross-border payment solutions.
The company is targeting collaborations with major local financial institutions, specifically Woori Bank, KB Financial Group, and KakaoBank. MoonPay previously signed a memorandum of understanding with Woori Bank in April 2026 to work on KRW-denominated stablecoin infrastructure.
To support its local operations, MoonPay acquired the fintech firm Finger in April 2026 for approximately $81 million. Additionally, the company has appointed Choi Han-kyeol, formerly of the blockchain firm Streami, as the new VP of Strategy for its Korean division.
MoonPay plans to apply for Virtual Asset Service Provider registration in 2027. Before filing, the company must complete the necessary Information Security Management System compliance preparations required by South Korean regulators.
