New updates have been reported about MoonPay.
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MoonPay is deepening its strategic bet on bank-led stablecoins by positioning MoonPay Korea as the infrastructure backbone for a new won-backed digital currency ecosystem, anchored by its inaugural banking memorandum of understanding with Woori Bank, South Korea’s oldest and one of its largest commercial banks. Under the MOU, MoonPay Korea will enable global distribution, cross-border settlement, wallet access, and currency conversion for KRW-denominated stablecoins issued within Korea’s regulated framework.
The initiative ties Korean banks’ stablecoin pilots into MoonPay’s global network of on- and off-ramps, trading, and checkout products, effectively turning MoonPay into the primary settlement and distribution layer for KRW stablecoins used in remittances, merchant payments, institutional flows, and other cross-border financial activity. As part of its regional build-out, MoonPay has appointed founding executive Bugeon Lee as Head of APAC, based in Seoul, to work directly with regulators, banks, and enterprises, leveraging the group’s extensive regulatory footprint across the U.S., EU, UK, and Asia-Pacific to make Korean stablecoins interoperable and usable worldwide.