Hong Kong-based fintech company RedotPay has launched its crypto-enabled payment cards in South Korea. The firm aims to be a game-changer in a market currently led by traditional credit card providers and mobile payment platforms.
According to a May. 9 report from The Korea Economic Daily, the company’s crypto debit cards both physical and digital, are now accepted at all Visa-supporting merchants in South Korea.
The move is RedotPay’s latest step in going global, following its Feb. 2025 partnership with Visa and BIN sponsor StraitsX to boost cross-border crypto payments.
RedotPay hits 4M users amid crypto card expands
Launched in 2023, RedotPay has grown quickly since the soft launch of its crypto card program in late 2024. The company now supports over 4 million users globally.
In South Korea, users can get a virtual card for $10 or a physical card for $100, with only basic verification required, like name, address, and ID. Social media reports suggest that the card is now available to users in Korea.
An X user said that individuals can start using it immediately on their smartphone without a physical card, simply by verifying their identity when it’s issued.
RedotPay cards support popular cryptocurrencies like Bitcoin and Ether, as well as stablecoins like USDC and USDT. Users can load their cards with crypto from several blockchains, including Polygon, Solana, Tron, Arbitrum, and BSC.
RedotPay taps into Apple Pay’s Seoul presence
One great feature of RedotPay is its real-time system for stablecoin payments and refunds. When users make a purchase, the stablecoins are immediately deducted from your wallet. If individuals cancel a transaction, the company issues refunds in USDC or USDT within minutes.
RedotPay works with Apple Pay in Seoul. It offers an advantage in a market where Apple Pay is currently available to Hyundai Card customers. The compatibility could be a game-changer for RedotPay as it takes on Korea’s dominant payment systems.
Crypto adoption has been growing rapidly in South Korea, with over 16 million people reportedly owning cryptocurrency. This has also made crypto a hot topic in the 2025 South Korean presidential race.
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 he wins the election.
