South Korea Rolls Out Instant Crypto Refunds—Because Waiting is So 20th Century

Seoul just leveled up its crypto game with a new payment system that slashes refund times to near-zero. No more watching your digital assets gather dust in processing limbo—transactions now reverse faster than a politician’s stance on regulation.

How it works: The system bypasses traditional banking delays by settling refunds directly on-chain. Merchants get automated fraud checks; users get their crypto back before buyer’s remorse kicks in.

The catch? It only works with compliant exchanges—because nothing says ’decentralization’ like KYC paperwork. Meanwhile, legacy banks are reportedly ’exploring blockchain solutions’ (translation: scrambling to stay relevant).

Another advantage? Apple Pay integration—something most Korean residents currently can’t access unless they use Hyundai Card. RedotPay’s compatibility could be a breakthrough as crypto payments push into mainstream retail.

The launch comes as crypto policy heats up in South Korea. With presidential elections nearing, both major parties have pledged reforms, including ETF approvals and new stablecoin rules. Over 16 million Koreans already hold crypto, and with tools like RedotPay entering the scene, everyday use could be next.