Hong Kong-based fintech firm RedotPay has made headlines with its recent launch of cryptocurrency-enabled payment cards in South Korea. This strategic move positions the company as a potential disruptor in a market that has long been dominated by traditional credit card firms and mobile payment services.
The newly introduced crypto debit cards, available in both physical and virtual formats, are already accepted at all Korean merchants that support Visa, as reported by The Korea Economic Daily.
This launch marks an important milestone in RedotPay’s global expansion strategy, following its partnership with Visa and BIN sponsor StraitsX earlier in February 2025, aimed at enhancing cross-border crypto payment capabilities.
Founded just last year, RedotPay has rapidly scaled its operations since the soft launch of its crypto card program in late 2024, attracting over 4 million users worldwide.
In South Korea, users can acquire a virtual card for just $10 and a physical card for $100, benefiting from minimal verification requirements that include basic details such as name, address, and ID. This accessibility is appealing, as highlighted by users on social media who have reported the ease of using the virtual card immediately upon verification.
Supporting Major Cryptocurrencies
The RedotPay cards support leading cryptocurrencies like Bitcoin (BTC) and Ether (ETH), as well as stablecoins such as USDC and USDT. Users have the capability to load their cards with crypto assets from several blockchains, including Solana, Polygon, BSC, Tron, and Arbitrum.
A standout feature of RedotPay’s service is its real-time stablecoin payment and refund system, which processes transactions swiftly — stablecoins are deducted instantly from the user’s wallet, while refunds are issued in USDC or USDT within minutes in case of cancellations.
Additionally, RedotPay has integrated with Apple Pay in Seoul. This compatibility offers a significant advantage, particularly in a market where Apple Pay is currently restricted to Hyundai Card customers, helping RedotPay to gain traction against established payment infrastructure.
As cryptocurrency adoption accelerates in South Korea, where over 16 million people reportedly hold crypto, the topic is becoming increasingly significant in the political arena, influencing discussions in the 2025 presidential race.
Leaders from various political parties are promising to introduce policies that favor cryptocurrency. Notably, on May 6, South Korea’s Democratic Party leader Lee Jae-myung pledged to approve spot crypto exchange-traded funds (ETFs) among other pro-crypto measures if elected. Meanwhile, the ruling People Power Party is also making similar promises aimed at establishing a regulatory framework for stablecoins and dismantling Korea’s controversial one-exchange-one-bank rule.
RedotPay’s entry into South Korea’s payment landscape exemplifies the pressing urgency of evolving financial technologies in response to consumer demands and the growing acceptance of digital currencies.
