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DeFi infrastructure provider THORWallet is expanding into Asia to provide local users with access to regulated decentralized finance.
Asia is home to a highly dynamic cryptocurrency market. Many countries in the region lead the pack in crypto adoption, while the region itself has recorded the highest growth in onchain activity over a 12-month period with a 69% increase.
High adoption is especially evident in South Korea. Around 31% of the population owns crypto, which translates to 16.2 million people. The number surpasses the stock investor count that stands at 14.1 million.
Though crypto is a hit in South Korea, much of the activity is concentrated on centralized exchanges. CEXs are responsible for almost 69% of crypto trading volume, while access to decentralized finance (DeFi) tools remains limited.
Swiss-regulated DeFi platform expands into Asia
THORWallet, a comprehensive DeFi infrastructure, took a strategic step to fill this gap. The project announced its expansion into South Korea.
Based in Switzerland, THORWallet offers a noncustodial crypto wallet that brings traditional banking features to DeFi. Eligible platform users can open a multicurrency Swiss banking account with an IBAN, and access a seamless fiat-to-crypto gateway with support for many major currencies.
Users can acquire a free Mastercard debit card that allows payments with crypto when shopping, with instant conversion to fiat during the purchase. Fiat-to-fiat transfers within the wallet are also available.
30 seconds from USDC to Mastercard. 💳
— THORWallet - Onchain Finance (@Thorwallet) March 16, 2026
Open @THORWallet. Tap card. Top up.
That's it. Card loaded.
Groceries. Coffee. Gas. Whatever you want.
No bank transfer. No CEX. No waiting.
Highest limits in the space - up to $1,000,000.
DeFi yields. Real-world spending. Right now. 🌍 pic.twitter.com/LVWD2b0AuD
As for DeFi, the platform supports native crosschain swaps between prominent cryptocurrencies, like Bitcoin (BTC), Ether (ETH), XRP and Solana (SOL). Users can also tap into stablecoins through THORWallet’s partnership with Circle, and move USDC across major blockchains.
The company expects this hybrid approach to appeal to users in Asia looking for access to TradFi and DeFi in the same place.
“Many crypto users want access to both DeFi and traditional financial rails without giving up custody of their assets,” said Marcel Harmann, founder of THORWallet. “Combining a noncustodial wallet with banking functionality helps close that gap.”
South Korea serves as a strategic entry point in the project’s broader expansion plan into Asia, where crypto adoption continues to see exponential growth year after year. “We see Korea as an important starting point,” Harmann said. “From there, we plan to expand further across Asia as demand grows for mobile access to decentralized financial infrastructure.”
Platform design aligns with local users
Since its launch in 2021, THORWallet has processed over $1.5 billion in crosschain swaps through liquidity networks, including THORChain, Maya Protocol and NEAR Intents. With its vast network of integrated blockchains, the wallet enables crosschain swaps without having to rely on wrapped tokens or centralized bridges.
Mobile design and a smooth user experience have been priorities for the project. This approach closely aligns with usage patterns in South Korea, where mobile crypto applications are highly preferred.
“Our goal is to provide a simple gateway that allows users to move from centralized exchanges into global DeFi liquidity,” the project founder said.
A strong fit for the market
THORWallet’s debut in South Korea targets a market where crypto ownership is widespread, but DeFi access remains limited. The platform is entering that environment with a product that combines noncustodial wallet, banking features and crosschain functionality in a mobile-focused format.
For local users, that could mean less reliance on separate services for basic crypto activity. Instead of buying assets on one platform, swapping them on another and cashing out elsewhere, they can manage those steps within a single product. The addition of banking rails, card payments and crosschain access also gives the wallet a practical role beyond storage, extending its use into fiat conversion and spending.
Disclaimer.This content is part of a paid partnership. The text below is a sponsored article that is not part of Cointelegraph.com editorial content. The material is written by our advertorial team and has undergone editorial review to ensure clarity and relevance, it may not reflect the views and opinions of Cointelegraph.com. Readers are encouraged to conduct their own research before taking any actions related to the company. Disclosure.
