Crypto.com partners with KGInicis, South Korea’s largest payment gateway.

PANews reported on March 17th that, according to The Block, Crypto.com has partnered with KG Inicis, South Korea's largest payment gateway and value-added network provider, to integrate Crypto.comPay into KG Inicis's South Korean merchant network. This will allow foreign tourists visiting South Korea to pay for local goods and services using digital assets. Merchants can choose to settle payments instantly in fiat currency or digital assets, while customers will enjoy faster, lower-cost payment options and greater payment flexibility.

KG Inicis processes over 400 million transactions annually, holding a 40% market share in South Korea's integrated payment platform market. Both parties plan to explore launching more products while adhering to compliance regulations. This collaboration comes at a time when South Korea is advancing its legislation on the "Digital Assets Basic Law," which will establish rules for crypto platforms, stablecoins, and crypto ETFs.