SEOUL, South Korea-January 02, 2025-Blockchain fintech platform DAWIN KS has introduced Korea’s first prepaid card (model name: DTK/ Dpec Travel Korea) rechargeable with Bitcoin has been launched.
This card, exclusively for foreigners, allows top-ups with fiat currencies such as USD and cryptocurrencies through unmanned currency exchange digital ATMs (DTMs)
According to industry sources, blockchain fintech company DAWIN KS will begin issuing the “foreigners-only prepaid (transit) card” on the 15th of this month and launch cryptocurrency recharge services at two DTM locations. The service supports three cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). For top-ups, the cryptocurrencies are converted to Korean won based on real-time exchange rates.
The recharge process is straightforward. After identity verification, users can simply scan the barcode on the back of the card at the DTM reader to recharge.
The service will initially be available at Newcore Outlet (Gangnam) and Dokkaebi Mart (Myeongdong). Starting in February, DTMs enabling cryptocurrency exchange and card top-ups will be installed at 10 additional locations, including major supermarkets in Seoul, Busan, and Jeju.
Cryptocurrency top-ups are exclusively available to foreigners and require strict identity verification. DAWIN KS has enhanced accuracy and security by introducing an AI-based facial recognition real-name authentication system, which has received ICT sandbox approval.
Fiat currency exchanges, including USD, are already operational at 10 DTM locations, such as exchange offices in Myeongdong and unmanned kiosks at Emart24 (Coex).
This service significantly improves the accessibility of prepaid (transit) cards, which were previously only available at subway stations. Foreign tourists can conveniently load unused change (coins), which are often not dispensed by other exchange ATMs, directly onto the DTK card, enhancing convenience.
DAWIN KS CEO Lee Jong-myung stated, “With the surge in foreign tourists visiting Korea post-pandemic, the demand for prepaid (transit) cards usable nationwide has risen significantly. We plan to install DTMs in locations convenient for tourists, such as convenience stores, large shopping centers, currency exchange points, and hotels.”
The recharge limit is expected to increase gradually. Currently, under the Electronic Financial Transactions Act, anonymous cards can be recharged up to KRW 500,000, while named cards have a limit of KRW 2,000,000. DAWIN KS is applying for a regulatory sandbox to raise the limit for named DTK cards based on its Know-Your-Customer (KYC) technology.
DTM exchanges support 85 types of currencies from 16 countries, including the Korean won, US dollar, and Japanese yen. Real-time exchange rates on the day of the transaction are applied.
For more information, visit [DAWIN KS website www.dawinks.com].
Company : DAWIN KS CO.,LTD
Contact: Manager / Hyunjung Kim
Email: info@dawinks.com
Website: www.dawinks.com
Telephone: +82 10.2053.2231
