In a significant development for the fintech landscape, MoonPay, a leader in the global crypto payments sector, has announced a strategic partnership with Sungho Electronics and Pantos Holdings to invest approximately $76 million in Finger, a prominent South Korean fintech company. This collaboration is aimed at creating a comprehensive ecosystem for a Korean won stablecoin, facilitating everything from issuance to practical applications in the financial market.
Established in 2000, Finger has been at the forefront of South Korea’s fintech revolution, powering mobile banking applications relied upon by millions. The company boasts a diverse client portfolio that includes major banks such as Shinhan Bank and KB Kookmin Bank, as well as tech giants like KakaoBank and multiple public institutions, including the National Pension Service. In the previous year, Finger recorded an impressive revenue of KRW 91.6 billion with an operating profit of KRW 1.4 billion, showcasing its solid footing in the industry.
The recent deal involves approximately KRW 110 billion and orchestrates a partnership between MoonPay’s robust infrastructure for stablecoin issuance and Finger’s established financial software network. A pivotal component of this collaboration will be the integration of Finger’s cloud ERP solution, Pharos, with MoonPay’s payment systems, which is expected to streamline stablecoin-based settlements for corporate trade transactions.
As a result of this agreement, Seoryong Electronics, the controlling owner of Sungho Electronics, will emerge as the largest shareholder of Finger. Park Min-soo, the vice chairman of Finger, will continue to play a crucial role as an advisor, ensuring smooth transitions in leadership and strategic direction.
The CEO of Sungho Electronics, Park Sung-jae, emphasized the company’s commitment to fostering innovation in digital financial services. He noted that the integration of ERP-based financial data with payment infrastructure will pave the way for enhanced corporate financial solutions.
Lee Bugeon, Founding Executive and Head of Asia at MoonPay, highlighted the significance of this investment in shaping the future of the Korean financial technology landscape, stating that it represents a critical step toward establishing the necessary framework for a Korean won stablecoin ecosystem.
MoonPay, founded in 2019, has rapidly evolved into a global financial technology powerhouse, supporting value transitions between fiat and digital assets across 180 countries. The company interacts with over 30 million customers and boasts more than 500 enterprise clients in the crypto and fintech sectors, redefining how value is exchanged worldwide. With a strong regulatory foundation, including various licenses across the U.S. and EU, MoonPay continues to position itself as a pivotal player in the growing digital economy.
