In a significant move to strengthen its presence in the Asian market, Airwallex, an Australia-founded fintech giant, has acquired South Korea’s Paynuri Co Ltd, marking a pivotal step in its global expansion strategy.
This acquisition, announced on January 21, 2026, grants Airwallex critical local payment licenses and a foreign-exchange business registration, enabling direct operations in South Korea without reliance on third-party intermediaries.
Strategic Importance of the Paynuri Acquisition
The deal comes on the heels of a December 2025 funding round that valued Airwallex at an impressive $8 billion, showcasing investor confidence in its growth trajectory.
By acquiring Paynuri, Airwallex secures Payment Gateway and Prepaid Electronic Payment Instrument licenses, positioning it to offer regulated payment and foreign exchange services in one of Asia’s key financial hubs.
Airwallex’s History of Innovation and Growth
Founded in 2015 in Melbourne, Airwallex has rapidly risen as a leader in cross-border payment solutions, catering to businesses with global financial needs.
Its expansion into South Korea follows similar strategic moves in other Asia-Pacific regions, including a recent acquisition in Indonesia, highlighting a focused effort to dominate the fintech landscape in the region.
Impact on South Korea’s Fintech Ecosystem
The entry of Airwallex into South Korea is expected to intensify competition among local fintech players like Naver Pay and Kakao Pay, potentially driving innovation in payment solutions.
Airwallex plans to launch global business accounts and payment acquiring services in South Korea by mid-2026, with further expansions slated for later in the year.
Future Prospects and Global Ambitions
Looking ahead, Airwallex aims to build a dedicated team of around 20 employees in South Korea by the end of 2026, focusing on sales, compliance, and client management.
This acquisition not only strengthens Airwallex’s foothold in Asia but also aligns with its broader vision of creating a seamless global financial platform for businesses of all sizes.
As reported by Reuters, co-founder Lucy Liu emphasized that operating directly in South Korea marks a milestone in reducing dependency on intermediaries, enhancing service efficiency.
Alfred Lee
