Crypto.com partners with Korean payment gateway KG Inicis

Techub News reported, according to The Block, that Crypto.com has partnered with South Korean payment gateway and value-added network provider KG Inicis to integrate Crypto.com Pay into KG Inicis's merchant network in South Korea. This will allow foreign tourists visiting South Korea to use digital assets to pay for local goods and services. Merchants can choose instant settlement in fiat currency or digital assets, while customers can 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 comprehensive payment platform market. Both parties plan to explore launching more products in compliance with regulations. This collaboration comes as South Korea advances legislation for the "Digital Asset Basic Act," which will establish rules for crypto platforms, stablecoins, and crypto ETFs.