Woori Bank to Develop Digital Wallet for Foreign Visitors, Test Stablecoin Payments
Summary
- Woori Bank and Crosshub said they will jointly develop a digital wallet for foreign visitors to improve payment convenience for travelers visiting South Korea.
- The companies said they will conduct a domestic payment environment test using foreign-currency-denominated stablecoins to assess the feasibility of building next-generation payment infrastructure.
- Crosshub said it will take part in digital finance technology demonstrations based on its track record with Woori Financial Group's DINNOlab, a CES 2026 Best of Innovation Award, and selection as a Global ICT Future Unicorn company.
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Woori Bank is partnering with fintech startup Crosshub to develop a digital wallet for foreign visitors to South Korea. The companies also plan to test a domestic payment environment using foreign-currency-denominated stablecoins.
Woori Bank said on June 11 that it signed a memorandum of understanding with Crosshub on June 10 at the bank's Digital Tower in Seoul's Jung District. The agreement covers joint service development aimed at improving payment convenience for foreign visitors to South Korea.
The companies aim to launch the digital wallet in the second half of this year. The service is designed to let foreign customers use simple payments on major local lifestyle platforms, including transportation, delivery and shopping, without additional authentication after registering their passport information and payment method once.
They also plan to roll out a dedicated prepaid card that foreign visitors can top up in their home currency and use in South Korea. The offering is intended to improve payment access for tourists unfamiliar with the country's payment systems.
In addition, the companies will test a domestic payment environment using foreign-currency-denominated stablecoins. The trial is intended to verify whether a next-generation payment infrastructure could improve payment convenience for foreign visitors.
Crosshub is a participant in Woori Financial Group's startup incubation program, DINNOlab. The company won a CES 2026 Best of Innovation Award and was also selected by South Korea's Ministry of Science and ICT as a Global ICT Future Unicorn company.
Lee Chang-hwan, deputy head of Woori Bank's Digital Innovation Department, said the partnership is meant to improve financial access and payment convenience for foreign visitors to South Korea. He added that the bank will expand cooperation with innovative startups and strengthen its digital finance competitiveness through demonstrations of future financial technologies.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
