Crypto.com has partnered with KG Inicis, Payment Gateway (PG) and Value Added Network (VAN) provider in South Korea, to enable digital asset payments for foreign visitors through Crypto.com Pay.
KG Inicis, which processes over 400 million transactions annually, will support the integration of Crypto.com Pay across its merchant network.
The feature allows international travellers to pay with digital assets for a range of goods and services and facilitates payments on Korean e-commerce platforms.
Merchants can receive payments instantly in fiat or digital assets, while users gain flexibility in payment options.
“KG Inicis boasts an unrivalled merchant acceptance network with 40% market share and we’re proud to partner with this fintech powerhouse to make digital asset payments easier for travellers to Korea,”
said Eric Anziani, President and Chief Operating Officer at Crypto.com.
“Giving our users more flexibility and access when it comes to how and when they use their digital assets is one of our central missions and we’re looking forward to scaling this partnership to benefit our users, the KG Inicis merchant network and hopefully the Korean tourism industry.”
A KG Inicis representative added:
“Through our collaboration with Crypto.com, we plan to expand an infrastructure where digital assets can be utilised in actual economic activities, all while ensuring a solid legal and regulatory foundation.”
Crypto.com and KG Inicis will also explore further collaborations, subject to local regulations, including promotional activities, co-marketing opportunities, and the development of new products and services.
Featured image credit: Edited by Fintech News Hong Kong, based on image by h9images via Freepik