Airwallex has completed the acquisition of Paynuri, gaining the licences required to enter the South Korean market.
Paynuri holds Payment Gateway and Prepaid Electronic Payment Instrument licences, as well as a Foreign Exchange Business registration.
The acquisition allows Airwallex to operate regulated payment and foreign exchange services locally, serving Korean companies expanding overseas and international firms operating in Korea.
Airwallex plans to launch global business accounts and payment acquiring services first, with additional products scheduled for rollout in 2026.
The company said the move will give Korean businesses access to tools for managing cross-border payments, multi-currency accounts and international transfers through a single platform.
South Korea becomes the latest addition to Airwallex’s licensed footprint in Asia, which already includes Japan, Hong Kong, Singapore, Malaysia, Indonesia and Vietnam.
The acquisition follows Airwallex’s recent Series G fundraising, which valued the company at US$8 billion.
The company said the capital is being used to support licensing and market expansion efforts across Asia.
Arnold Chan, General Manager, APAC at Airwallex, said,
“This acquisition marks a pivotal milestone for Airwallex as we expand the global reach of our financial platform.
Korea’s fast-growing ecommerce, creative and entertainment sectors present immense opportunities for Korean businesses on the global stage. Our goal is to support these businesses with a more efficient solution to expand beyond borders.”
Lee, Jihyung, President & CEO of Invest Seoul, said,
“We are excited by this significant investment by Airwallex into the Korean market. We believe Airwallex’s entry will strengthen the financial operating environment for both Korean and global companies in the market.
Invest Seoul will continue to collaborate closely with Airwallex to accelerate the digital transformation journey for Korean businesses, and to support more global companies in entering Seoul and operating their businesses successfully.”
Airwallex reported continued growth in Asia Pacific in 2025, with revenue and transaction volumes rising year on year.
The company plans to expand its local operations in Korea, targeting a team of around 20 employees by the end of 2026.
This article first appeared on Fintech News Singapore
Featured image: Edited by Fintech News Hong Kong, based on image by digitizesc via Freepik