The agreement aims to reduce the inconveniences foreign tourists face when using domestic financial and payment services. The two companies plan to jointly develop a 'digital wallet exclusively for foreigners,' targeting a launch in the second half of the year. This service will allow foreign customers to register their passport information and payment methods just once, enabling easy payments across major domestic platforms for transportation, delivery, and shopping without additional authentication. Additionally, they plan to introduce a prepaid card specifically for foreigners that can be loaded with their home currency for use in South Korea.
They will also conduct tests of a domestic payment environment utilizing foreign currency-based stablecoins. This initiative aims to verify the feasibility of building a payment infrastructure that enhances convenience for foreign customers. CrossHub is a participant in Woori Financial Group's startup collaboration program, 'DinoLab,' and has been recognized as a 'Global ICT Future Unicorn' by the Ministry of Science and ICT after winning the CES 2026 Innovation Award.
Woori Bank intends to expand practical collaboration with companies nurtured through DinoLab and continuously explore new financial service models in partnership with innovative startups.
Lee Chang-hwan, head of Woori Bank's Digital Innovation Division, stated, "This collaboration aims to enhance financial accessibility and payment convenience for foreign visitors. We will continue to expand partnerships with innovative startups and strengthen our digital financial competitiveness through the validation of future financial technologies."
Meanwhile, Woori Bank is expanding its specialized services for foreigners, including new financial and communication services and prepaid cards.
* This article has been translated by AI.
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