{"id":128974,"date":"2025-05-10T10:15:32","date_gmt":"2025-05-10T10:15:32","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=128974"},"modified":"2025-05-10T10:15:32","modified_gmt":"2025-05-10T10:15:32","slug":"redotpay-enters-south-korea-with-crypto-powered-payment-cards","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=128974","title":{"rendered":"RedotPay enters South Korea with crypto-powered payment cards"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsHong 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 dominated by traditional credit card firms and mobile payment services.<br \/>\nThe company\u2019s crypto debit cards\u2014both physical and virtual\u2014are now accepted at all Korean merchants that support Visa, according to a May 9 report by The Korea Economic Daily.<br \/>\nThe move marks RedotPay\u2019s latest step in global expansion, following its earlier partnership with Visa and BIN sponsor StraitsX in February 2025 to enhance cross-border crypto payment capabilities.<br \/>\nRedotPay, founded in 2023, has rapidly scaled since the soft launch of its crypto card program in late 2024. It now serves more than 4 million users worldwide.<br \/>\nIn 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.<br \/>\nReports on social media indicate that the card is currently available to Korean users. \u201cYou can use it right away with your smartphone without a physical card by simply verifying your identity upon issuance,\u201d one user wrote on X.<br \/>\nSource: BlippiRelated:\u00a0North Korean spy slips up, reveals ties in fake job interview<br \/>\nRedotPay cards support major cryptocurrencies<br \/>\nThe RedotPay cards support major cryptocurrencies like Bitcoin (BTC) and Ether (ETH) and stablecoins such as USDC (USDC) and USDt (USDT). Users can load their cards with crypto assets from several blockchains, including Solana, Polygon, BSC, Tron, and Arbitrum.<br \/>\nOne standout feature is RedotPay\u2019s real-time stablecoin payment and refund system. When a purchase is made, stablecoins are deducted instantly from the user\u2019s wallet.<br \/>\nIf a transaction is canceled, refunds in USDC or USDT are processed within minutes.<br \/>\nRedotPay 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\u2019s established payment infrastructure.<br \/>\nCrypto 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.<br \/>\nOn May 6, South Korea\u2019s 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.<br \/>\nSouth Korea\u2019s ruling party, the\u00a0People Power Party, also\u00a0reportedly made crypto policy promises in late April, which included allowing spot crypto ETFs, dismantling Korea\u2019s controversial one-exchange-one-bank rule, and establishing a regulatory framework for stablecoins.<br \/>\nMagazine:\u00a0Crypto wanted to overthrow banks, and now it\u2019s becoming them in stablecoin fight<a href=\"https:\/\/cointelegraph.com\/news\/redotpay-crypto-payment-cards-south-korea?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsHong 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 dominated by traditional credit&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128974"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128974"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128974\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128974"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}