MoonPay Signs MOU With Woori Bank on Korean Won Stablecoin Infrastructure

Global crypto payments company MoonPay is expanding cooperation with Woori Bank on infrastructure for a Korean won stablecoin.

MoonPay said on April 30 that it signed a memorandum of understanding with Woori Bank to build infrastructure for a Korean won stablecoin, according to Yonhap News and other local media.

The agreement will serve as a starting point for discussions on the stablecoin’s potential global use and cooperation in remittances and payments. MoonPay will act as Woori Bank’s infrastructure partner in stablecoin distribution, cross-border payments and wallet integration.

Lee Bu-geon, MoonPay’s head of Asia, said the company would support the Korean won stablecoin so it can become not only a trusted domestic product but also a usable and interoperable means of payment and settlement in global markets.

Separately, MoonPay announced on April 29 that it would launch a new institutional unit, MoonPay Institutional. Its main clients will be institutions entering the digital-asset market, including banks, asset managers, trading firms and exchanges.

The business will be led by Caroline Pham, former acting chair of the U.S. Commodity Futures Trading Commission. She joined MoonPay in December 2025 as chief legal officer and chief administrative officer.