Airwallex acquires Paynuri to expand global access for Korean businesses

Airwallex has acquired South Korea-based Paynuri Co. Ltd. in a move aimed at strengthening its licensed financial infrastructure in Asia and supporting Korean companies seeking to expand internationally. The acquisition brings Airwallex key regulatory approvals in Korea, including Payment Gateway and Prepaid Electronic Payment Instrument licences, alongside a Foreign Exchange Business registration, enabling the company to operate more fully in one of Asia’s most significant commercial markets.

By securing these licences through Paynuri, Airwallex positions itself to support both domestic Korean enterprises and international firms operating in Korea. The company said the transaction allows it to deliver its full suite of financial services locally, while also connecting Korean businesses more efficiently to global markets. The move reflects a broader strategy to build regulated, scalable financial infrastructure across Asia-Pacific, rather than relying on partnerships alone.

Korea becomes the latest addition to Airwallex’s licensed footprint in the region, which already spans major markets such as Japan, Hong Kong, Singapore, Malaysia, Indonesia and Vietnam. The company views Korea as a critical hub within Asia’s digital and cross-border commerce ecosystem, particularly given the country’s strong export orientation and globally influential consumer brands.

Supporting cross-border growth amid Korea’s global expansion

With regulatory approval secured, Airwallex plans to roll out services that allow Korean businesses to manage international operations more easily. The platform is designed to help companies handle multi-currency banking, foreign exchange and international transfers through a single account structure, reducing the complexity traditionally associated with cross-border finance.

The company also plans to introduce payment acceptance capabilities, enabling Korean merchants to accept both online and in-store payments from customers worldwide. This includes support for cards and more than 160 local payment methods, alongside a localised, multi-currency checkout experience intended to improve conversion rates for international customers. Global business accounts and payment acquiring are expected to be the first products launched in Korea, with further releases planned across 2026.

The timing of the expansion aligns with growing international demand for Korean entertainment, consumer goods and creative exports, often described as the global “K-wave”. This market is projected to reach US$198 billion by 2030, creating both opportunity and operational complexity for Korean companies selling overseas. Airwallex is positioning its platform as infrastructure that can help these businesses manage currency risk, payments and compliance as they scale globally.

Arnold Chan, General Manager, APAC at Airwallex, described the acquisition as a significant step in extending the company’s platform reach. He said, “This acquisition marks a pivotal milestone for Airwallex as we expand the global reach of our financial platform. Korea’s fast-growing ecommerce, creative and entertainment sectors present immense opportunities for Korean businesses on the global stage. Our goal is to support these businesses with a more efficient solution to expand beyond borders.”

Strengthening APAC infrastructure and local presence

The acquisition of Paynuri follows Airwallex’s recent Series G fundraising round, which valued the company at US$8 billion, representing an increase of around 30 per cent from its previous valuation. The company has stated that the new capital is being directed towards building secure, licensed financial infrastructure in priority markets, including Korea.

Airwallex’s growth in the Asia-Pacific region has been underpinned by strong financial performance. In 2025, the company reported an 85 per cent year-on-year increase in revenue across APAC, alongside a 71 per cent increase in transaction volume. On a global basis, it reached US$1.2 billion in annualised revenue and US$266 billion in annualised transaction volume as of December 2025, reflecting rising demand for cross-border financial services.

The company is also committing to a physical presence in Korea as part of its market entry. Plans are in place to expand local operations through new hires across multiple functions, with a target headcount of 20 employees in Korea by the end of 2026. This local investment is intended to support regulatory engagement, customer onboarding and ongoing product development for the Korean market.

Lee Jihyung, President and CEO of Invest Seoul, welcomed the investment, noting its potential impact on the local business environment. He said, “We are excited by this significant investment by Airwallex into the Korean market. We believe Airwallex’s entry will strengthen the financial operating environment for both Korean and global companies in the market. Invest Seoul will continue to collaborate closely with Airwallex to accelerate the digital transformation journey for Korean businesses, and to support more global companies in entering Seoul and operating their businesses successfully.”

As Airwallex continues to expand its regulated footprint, the Korea acquisition signals a longer-term commitment to Asia’s largest and most complex markets. Rather than focusing solely on scale, the company is prioritising licensing, compliance and local capability as foundations for sustainable growth in cross-border financial services.