Sentbe Enters the Stablecoin Market…"Targeting On·Off Ramps to Expand Globally"

Sentbe Roundtable Meeting

Declaration to Pursue Stablecoin Business

Targeting the Market with 'On·Off Ramps'

Only Domestic Holder of Singapore MPI

International remittance company Sentbe is pursuing a stablecoin business. Sentbe intends to target the global fintech market through stablecoins.

Choi Seong-wook, CEO of Sentbe, said this on the 3rd at the '2025 Sentbe Roundtable' held at Sentbe's office in Yeouido, Seoul. Choi said, "With the U.S. institutionalizing stablecoins, the payment and remittance market through stablecoins has begun to open in earnest," and "Already abroad, large commerce companies like Shopify have integrated stablecoins into payment methods." He added, "Stablecoins can be a means to complement the limitations of existing international remittance networks," and "If companies use stablecoins, they can enjoy advantages such as fast settlement times and low fees."

Sentbe is a domestic fintech company founded in 2015. It provides services supporting overseas remittances for individuals and small and medium-sized enterprises, such as foreign workers and overseas students. Since its founding, it has handled remittances totaling 14 trillion won to date, and is expected to record up to 16 trillion won in remittances this year. The number of countries to which Sentbe supports remittances reaches about 170. Choi said, "Sentbe's strength is the infrastructure built on years of remittance business," and "based on this, we plan to support companies that need to introduce stablecoin payment services."

Sentbe's point of attack in the stablecoin market is the 'on·off ramp.' On·off ramps refer to the exchange between digital assets and fiat currency. Specifically, an on-ramp is converting fiat currency into digital assets, and an off-ramp is converting digital assets into fiat currency. Sentbe intends to provide more convenient services to companies that want to make payments and settlements with stablecoins by enhancing the on·off ramps.

Choi explained, "The existing on·off ramp function was a function that only digital asset exchanges could provide," and "(but) due to recent changes in the regulatory environment, fintech companies are now able to provide that service." He added, "Sentbe is already a company prepared with the capability to stably handle conversion between fiat currency and digital assets."

Sentbe's strength is its Singapore Major Payment Institution (MPI) license. Sentbe is the only fintech company in Korea that holds a Singapore MPI license. Choi emphasized, "Singapore is becoming a hub for global payments and remittances," and "holding this license means that collaboration with global companies or expansion of stablecoin-based payment business can be made much easier."

Sentbe plans to expand its stablecoin business based on existing partnerships. Choi said, "We currently provide settlement infrastructure to LINE's LINE NEXT service," and "we are discussing ways to expand this into a stablecoin-based payment model." He added, "As in the case of supporting payments from overseas buyers conducted with Dongdaemun apM, we will support stablecoin payment services starting from areas where there is actual demand."

In response to the question, "Isn't VASP (Virtual Asset Service Provider) registration required to offer stablecoin-based payments in Korea?" Choi said, "All on·off ramps for stablecoins will be conducted through the Singapore entity, and in Korea we will operate a business that settles dollars into won." He added, "We have already sought legal counsel on this matter and have determined there is no issue."

He also mentioned plans for an initial public offering (IPO). Choi said, "(First) we will prove the company's growth potential through the stablecoin business," adding, "There are no plans to list next year at this time."