Lido Pay Halts New Card Issuance in South Korea

Hong Kong-based cryptocurrency card provider Lido Pay has halted the issuance of new cards to South Korean users, according to a report by Seoul Economic Daily on May 15. The service recently blocked the ability for Korean users to apply for physical cards as well as virtual cards that can be used with mobile payment platforms like Apple Pay and Samsung Pay. Attempts to issue cards through Lido Pay's app in Korea now trigger an alert stating 'card applications are temporarily unavailable in your region.' Additionally, Lido Pay has terminated its partnership program with affiliates and influencers who provided guidance on joining or applying for the card, effective May 7.