MoonPay Joins Sungho Electronics in Acquisition of Finger

On April 23, global cryptocurrency payment infrastructure company MoonPay announced that it will acquire fintech (finance + technology) company Finger in partnership with Sungho Electronics.

The previous day, Seoryong Electronics, Sungho Electronics, MoonPay, and Pantos Holdings disclosed that they had signed a contract to invest approximately 110 billion won in Finger. Founded in 2000, Finger is a fintech company that provides financial platforms to financial institutions.

Seoryong Electronics is the largest shareholder of Sungho Electronics, with CEO Park Sungjae holding a 100% stake. Established in 2019, MoonPay offers crypto payments, stablecoin issuance, and infrastructure services to more than 30 million users and over 500 corporate clients in 180 countries worldwide.

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Pantos Holdings also participated as a strategic investor (SI) in this investment. The company is wholly owned by Koo Bonho, the former major shareholder of LX Pantos and a member of the founding family of LG. A Pantos Holdings representative stated, "Together with Sungho Electronics, we plan to commercialize a business-to-business stablecoin payment service that links Finger’s cloud-based enterprise resource planning (ERP) solution 'Pharos' with MoonPay’s stablecoin and payment infrastructure."

Lee Bugun, co-founder and Asia CEO of MoonPay, commented, "This investment opens the door for us to combine MoonPay's stablecoin issuance, swap, and cross-border payment infrastructure with Finger's domestic financial software network," adding, "We have established a bridgehead for building a comprehensive infrastructure that connects the issuance and real-world use of a Korean won stablecoin."

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