Hong Kong-based RedotPay halts all new card issuance for South Korean users

Hong Kong-based crypto card issuer RedotPay has fully suspended new card issuance for South Korean users, Seoul Economic Daily reported today. RedotPay recently blocked issuance of not only physical cards for South Korean users but also virtual cards that can be registered with simple payment services such as Apple Pay and Samsung Pay. When users in South Korea try to apply for a card through the RedotPay app, the application is blocked with a notice saying, "Currently, card applications are temporarily unavailable in this region." The company also ended its affiliate program on Sept. 7 with partners and influencers in South Korea that had provided guidance on signing up for RedotPay and applying for cards or had shared referral codes. In May last year, RedotPay suspended new physical card issuance for South Korean users before resuming it a few months later.