Crypto.com Partners KG Inicis to Enable Crypto Payments

TLDR

• Crypto.com has partnered with KG Inicis to enable crypto payments for foreign travelers in South Korea.
• The integration connects Crypto.com Pay to a merchant network that processes over 400 million transactions annually.
• Foreign visitors can use supported digital assets for payments at physical stores and online platforms.
• Merchants can receive instant settlements in fiat currency or digital assets through existing payment systems.
• KG Inicis holds about 40% of South Korea’s payment gateway market share.

Crypto.com has partnered with KG Inicis to enable crypto payments for foreign travelers in South Korea. The companies announced the agreement on March 17, 2026, through a joint press release. The integration will connect Crypto.com Pay to a network processing over 400 million transactions annually.

Crypto.com and KG Inicis Integrate Payment Networks

Crypto.com will integrate Crypto.com Pay into KG Inicis’s merchant network across South Korea. As a result, foreign visitors can use supported digital assets for everyday purchases. The companies confirmed that merchants can accept payments online and offline through existing systems.

KG Inicis controls about 40% of South Korea’s payment gateway market. The company processes more than 400 million transactions each year. Therefore, the integration gives Crypto.com access to a broad base of merchants and service providers.

The agreement allows merchants to receive instant settlements in fiat or digital assets. At the same time, customers can complete transactions with lower fees and faster processing. Crypto.com stated that the system will operate within South Korea’s existing payment infrastructure.

A representative of KG Inicis said, “A payment infrastructure that bridges digital assets with the real economy will become a core competitiveness of the future finance and commerce industries.” The representative added that the company plans to expand infrastructure for digital asset usage. The statement also stressed compliance with legal and regulatory standards.

Crypto.com President and COO Eric Anziani described KG Inicis’s network as “unrivalled” in the country. He said the partnership aims to give users flexibility over how they spend digital assets. He also said the agreement supports foreign tourism spending in South Korea.

Expansion Plans and Regulatory Context in South Korea

The integration will also extend to Korean e-commerce platforms connected to KG Inicis. International users can pay with crypto on supported K-commerce websites. The companies said the system will reduce foreign card fees and currency conversion costs.

Crypto.com has expanded its presence in South Korea over the past several years. In 2022, it secured Electronic Financial Transaction Act and Virtual Asset Service Provider registrations. The company obtained these registrations through acquisitions of PnLink and OK-BIT.

In April 2024, Crypto.com launched a localized trading app for Korean users. The app operates under the OK-BIT license. The company stated that it continues to follow local compliance requirements.

Other financial groups in South Korea have also entered digital asset partnerships. Hanwha Asset Management formed a partnership with the Jito Foundation to develop liquidity staking exchange-traded products. Hana Financial Group signed a memorandum of understanding with Standard Chartered to explore digital asset initiatives, including possible stablecoin projects.

South Korean lawmakers are drafting the Digital Asset Basic Act. The proposed bill would establish rules for crypto platforms, stablecoins, and crypto exchange-traded funds. The companies stated that they plan to explore additional products in compliance with local regulations.

The post Crypto.com Partners KG Inicis to Enable Crypto Payments appeared first on CoinCentral.