Integration of Crypto.com Pay into KG Inicis network enables digital asset spending for visitors in South Korea
Crypto payments are moving closer to everyday use, especially in travel and retail. Crypto.com and KG Inicis aim to make spending digital assets easier for foreign visitors. The move could help bring crypto payments into more real-world transactions nationwide.
Partnership Opens Doors to Crypto Payments for Tourists
Crypto.com has announced a partnership with KG Inicis, South Korea’s largest Payment Gateway (PG) and Value Added Network (VAN) provider. The agreement focuses on expanding digital asset payments through Crypto.com Pay.
In particular, it targets foreigners visiting South Korea, allowing them to pay for goods and services using digital assets. KG Inicis processes more than 400 million transactions each year and holds about 40% market share.
Its merchant network spans a wide range of industries, including retail, hospitality, and online commerce. As a result, Crypto.com Pay will be introduced across this network, giving international users broader access to crypto-based payments.
Foreigners will be able to pay directly with digital assets at supported merchants. At the same time, the system supports cross-border payments on Korean e-commerce platforms. This adds another payment option for global users who prefer digital assets over traditional methods.
Crypto.com Pay offers faster settlement compared to many legacy systems. In turn, merchants can receive funds instantly in either fiat currency or digital assets. Customers also benefit from flexible payment choices, especially when dealing with foreign exchange costs or card restrictions.
Crypto.com Partnership Signals Wider Crypto-Commerce Integration in South Korea
Eric Anziani, President and COO of Crypto.com, said the partnership expands payment access for users visiting Korea. He noted that KG Inicis brings a large merchant network, which supports wider acceptance of digital asset payments. Eric added that the company aims to grow the service further across the region.
In addition, a representative from KG Inicis pointed to the growing role of digital assets in commerce. The firm sees payment systems linking crypto and traditional finance as a key factor in future competitiveness.
Both companies plan to consider additional business opportunities, subject to local regulations. These may include joint promotions, co-marketing campaigns, and new financial products tied to digital assets.
Meanwhile, recent developments in the payment sector also show rising interest in crypto partnerships across South Korea. For example, Hanwha Asset Management recently partnered with the Jito Foundation to develop liquidity-staking exchange-traded products. Activity from large financial firms signals increasing institutional involvement in the sector.
At the same time, regulatory efforts continue to shape the market. Policymakers are working on the Digital Asset Basic Act, a proposed framework for crypto platforms, stablecoins, and exchange-traded funds. The bill aims to set clearer rules for the industry as adoption grows.
