Hong Kong-based fintech firm RedotPay has reportedly launched its cryptocurrency-enabled payment cards in South Korea

The company’s crypto debit cards—both physical and virtual—are now accepted at all Korean merchants that support Visa

Hong Kong-based fintech firm RedotPay has reportedly launched its cryptocurrency-enabled payment cards in South Korea, positioning itself as a potential disruptor in a market traditionally dominated by traditional credit card firms and mobile payment services.

According to a May 9 report by The Korea Economic Daily, the company’s crypto debit cards—available in both physical and virtual formats—are now accepted at all Korean merchants that support Visa.

The move marks RedotPay’s latest step in global expansion. Earlier this year, in February, the firm partnered with Visa and BIN sponsor StraitsX to enhance cross-border crypto payment capabilities.

RedotPay, which was founded in 2023, has rapidly scaled since the soft launch of its crypto card program in late 2024. To date, it now serves more than 4 million users worldwide.

In South Korea, users can receive a virtual card for $10 or a physical card for $100, with minimal verification requirements, including name, address, and ID.

Reports on social media indicate 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 upon issuance,” one user wrote on X.

RedotPay cards support major cryptocurrencies such as Bitcoin (BTC) and Ether (ETH), as well as stablecoins like USDC (USDC) and USDt (USDT). Users can load their cards with crypto assets from several blockchains, including Solana, Polygon, BSC, Tron, and Arbitrum.

One standout feature is RedotPay’s real-time stablecoin payment and refund system. When a purchase is made, stablecoins are instantly deducted from the user’s wallet.

If a transaction is canceled, refunds in USDC or USDT are processed within minutes.

RedotPay is also compatible with Apple Pay in Seoul, giving it an edge in a market where Apple Pay is currently limited to Hyundai Card customers. The compatibility could prove crucial as RedotPay challenges Korea’s established payment infrastructure.

Crypto adoption has been accelerating in South Korea, where over 16 million people reportedly hold crypto. This has also made crypto a key 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, should he be elected.

South Korea’s ruling party, the People Power Party, also reportedly made crypto policy promises in late April, which included allowing spot crypto ETFs, dismantling Korea’s controversial one-exchange-one-bank rule, and establishing a regulatory framework for stablecoins.