RedotPay launches crypto payment cards in South Korea

Hong Kong-based fintech company RedotPay has introduced cryptocurrency-enabled payment cards in South Korea, aiming to compete with the country’s established credit card and mobile payment providers.

According to a May 9 report by The Korea Economic Daily, RedotPay’s physical and virtual crypto debit cards are now accepted at all merchants supporting Visa in South Korea.

This launch follows RedotPay’s partnership with Visa and BIN sponsor StraitsX in February 2025 to enhance cross-border crypto payment services.

Since its founding in 2023, RedotPay has grown rapidly, serving over 4 million users worldwide after its soft launch of crypto cards in late 2024.

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

Social media reports confirm that Korean users can start using the virtual card immediately on their smartphones after identity verification.

RedotPay cards support major cryptocurrencies such as Bitcoin and Ether, as well as stablecoins including USDC (CRYPTO:USDC) and USDT (CRYPTO:USDT).

Users can load funds from multiple blockchains like Solana (CRYPTO:SOL), Polygon (CRYPTO:MATIC), Binance Smart Chain, Tron (CRYPTO:TRX), and Arbitrum (CRYPTO:ARB).

A notable feature is the real-time stablecoin payment and refund system, where stablecoins are deducted instantly upon purchase and refunds are processed within minutes.

RedotPay is also compatible with Apple Pay in Seoul, expanding access beyond the current limitation to Hyundai Card customers.

This compatibility may help RedotPay challenge South Korea’s traditional payment infrastructure.

Cryptocurrency adoption is growing in South Korea, with over 16 million holders reported.

Crypto policy has become a significant topic in the 2025 presidential race, with candidates from both major parties proposing crypto-friendly measures.

Democratic Party leader Lee Jae-myung pledged to approve spot crypto ETFs and other reforms if elected.

Similarly, the ruling People Power Party has proposed allowing spot ETFs, revising exchange banking rules, and establishing stablecoin regulations.