Danal to Launch Collaborative Service with Binance Pay and Circle in April...Opening the Era of 'Crypto Payments' Exclusively for Foreign Visitors

Danal, a company specializing in integrated payment business, announced on March 5 that it will officially launch an integrated payment and settlement service exclusively for foreign visitors to Korea in April, in partnership with Binance Pay, the world’s largest digital asset payment platform, and Circle, the global stablecoin issuer.

This service allows Binance users from around the world visiting Korea to conveniently make payments anywhere in the country with their existing assets, without the need for currency exchange. The global stablecoin USDC has been adopted as the settlement currency. The three companies—Danal, Circle, and Binance Pay—have established a seamless payment and settlement process, which not only mitigates digital asset volatility risk but also ensures asset transparency and speed, according to industry evaluations.

Danal plans to first apply this service to its foreigner prepaid card, K.ONDA (Konda), and then expand the service focusing on tourists. Konda offers high accessibility, allowing foreign tourists to receive a physical card immediately upon arrival, as dedicated kiosks are installed at major international airports such as Incheon and Gimpo, as well as key convenience stores and medical concierge centers.

In particular, Konda is linked to the BC Card payment network and fully supports 'online payments,' which had been a limitation of existing foreigner prepaid cards. This unique universality enables short-term foreign visitors to use delivery apps, online shopping, and public transportation just like local residents, which is expected to further enhance the service synergy.

Danal plans to expand this integrated payment and settlement service, based on the three-party collaboration, to various sectors. As this is the first domestic partnership model with Binance Pay, which has the world’s largest user base, many companies have shown significant interest and have proactively expressed their intention to partner with Danal for this service. Danal will continue discussions with these companies and aims to greatly expand the payment domain to encompass all aspects of lifestyle in the future.

A Danal representative stated, "This collaborative solution among Danal, the leading payment company, Binance with the world’s largest crypto ecosystem, and Circle, the standard in stablecoins, will serve to elevate the status of Korean fintech. We aim to establish ourselves as the most useful payment method for foreign visitors to Korea, while actively engaging with other financial institutions to introduce this solution, thereby solidifying our position as a market leader."

This content was produced with the assistance of AI translation services.