The acquisition of Paynuri follows Airwallex’s recent fundraising round, which valued the company at approximately $8 billion, and forms part of its broader strategy to expand licensed operations across key global markets.
Global fintech Airwallex has acquired Paynuri, a South Korea-based payments company, in a move designed to strengthen its regulated payments and foreign exchange infrastructure in one of Asia’s most advanced digital economies. The financial terms of the deal were not disclosed.
Founded in Australia, Airwallex provides cross-border payments, multi-currency accounts, foreign exchange, payment acceptance and financial infrastructure for businesses operating internationally. While the company has served customers globally, operating directly in South Korea has historically been constrained by the country’s strict financial licensing regime.
Paynuri brings with it a set of local regulatory approvals, including licenses for payment gateway services, prepaid electronic payment instruments, and foreign exchange-related activities. Through the acquisition, Airwallex gains the ability to operate directly in the Korean market, reducing reliance on third-party intermediaries for regulated services.
Airwallex executives have described the transaction as a way to establish a fully licensed, on-the-ground presence in South Korea, allowing the company to deploy its core payments and FX infrastructure locally.
South Korea is widely regarded as an attractive market for global fintechs due to its combination of:
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A highly digitalised economy;
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Strong export orientation;
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Fast-growing e-commerce, gaming, SaaS and content sectors;
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Businesses with significant cross-border payment and foreign exchange needs.
Many Korean companies operate globally from an early stage, creating demand for tools that support multi-currency revenue, international payouts, and global payment acceptance. Airwallex’s platform is positioned to address these needs by offering near-interbank FX rates, multi-currency wallets, global payouts, and API-driven payment infrastructure.
At the same time, South Korea’s regulatory complexity creates high barriers to entry, making licensed market access a long-term competitive advantage once secured.
According to public statements, Paynuri’s team will join Airwallex, supporting the integration of local regulatory capabilities and market expertise. The acquisition is expected to help Airwallex localise its products for Korean businesses while also making it easier for international companies to operate and accept payments in South Korea.
Paynuri will effectively serve as Airwallex’s regulated operating base in the country, enabling the rollout of services such as local payment acceptance, FX services, and global business accounts tailored to Korean customers.
The deal aligns with Airwallex’s wider global expansion strategy, which has focused on building or acquiring licensed infrastructure rather than relying solely on partnerships. By securing regulatory access in South Korea, Airwallex strengthens its footprint in the Asia-Pacific region, reinforcing its role as a specialised provider of international financial infrastructure for both outbound Korean businesses and inbound international firms.
