Hong Kong-based fintech company RedotPay has launched its crypto-backed payment cards in South Korea, challenging the country’s traditional payment infrastructure. Thanks to Visa integration, Korean users can now perform real-time stablecoin transactions.
RedotPay’s Move into South Korea
Founded in 2023, RedotPay drew attention with the launch of its crypto card program in late 2024. In February 2025, the company accelerated its international crypto payment expansion through a partnership with Visa and BIN sponsor StraitsX. As of today, RedotPay serves more than 4 million users worldwide.
The cards, now available in South Korea, can be obtained as either virtual or physical. Virtual cards are priced at $10, while physical cards cost $100. The registration process only requires name, address, and ID verification.
Social media users note the cards are easily accessible. One user on X stated, “There’s no need for a physical card—you can start using it right away on your smartphone after verifying your identity.”
Real-Time Payments with Bitcoin and USDT
RedotPay cards support major cryptocurrencies like Bitcoin and Ethereum, along with stablecoins such as USDC and USDt. Users can load their cards via networks like Solana, Polygon, BSC, Tron, and Arbitrum.
One of the standout features is the instant stablecoin payment and refund system. When a purchase is made, stablecoins are instantly deducted from the user’s wallet. If the transaction is canceled, refunds in USDC or USDT are processed within minutes.
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Compatible with Apple Pay
In Seoul, RedotPay offers Apple Pay compatibility, providing a key advantage. Since Apple Pay is currently limited to Hyundai Card users in South Korea, this compatibility could significantly boost RedotPay’s competitive edge.
Crypto Adoption on the Political Agenda
More than 16 million people in South Korea hold cryptocurrency, making it a central issue in the political landscape. Ahead of the 2025 presidential elections, major parties are unveiling crypto-friendly policies.
On May 6, Democratic Party leader Lee Jae-myung pledged to approve spot crypto ETFs if elected. In late April, the ruling People Power Party also made promises including spot ETF approval, stablecoin regulation, and lifting the one-exchange-one-bank rule.
RedotPay’s entry into the Korean market during this period is seen as a major step forward for users embracing the crypto ecosystem.
