Dunamu, which runs South Korea’s biggest crypto exchange Upbit, has entered a strategic alliance with Visa to investigate stablecoin payments, cross‑border remittances, and AI‑driven financial services.
The two firms intend to merge Dunamu’s digital‑asset platform with Visa’s worldwide payments network. No commercial product or launch timeline has been disclosed yet.
Initially, the partnership will examine possible stablecoin‑based payment, remittance and settlement solutions. Any projects would roll out in phases, adhering to local rules concerning stability, transparency and interoperability.
Dunamu and Visa Examine OUSD Stablecoin Use
In an official statement, the partners noted they would also study business models built around Open USD (OUSD), a dollar‑backed stablecoin initiative.
OUSD is a dollar‑backed stablecoin created under the Open Standard initiative, which includes Visa among its over 140 global partners.
The stablecoin has not yet gone live. It is being designed as a shared payments infrastructure that would operate without minting or redemption fees at scale, with most of the income from its reserves returned to the participating companies.
OUSD remains unlaunched. The partnership does not obligate Dunamu to adopt OUSD, and no specific OUSD product has been announced.
AI Payments and Agentic Commerce
The alliance will also look into AI‑enabled payments, including “agentic commerce,” where AI agents could browse for goods or services and execute purchases and payments on users’ behalf.
Dunamu CEO Oh Kyung‑seok said the collaboration seeks to link digital assets with traditional financial infrastructure, as AI, stablecoins and tokenization reshape payments and commerce.
South Korea’s Stablecoin Regulation Remains Unclear
South Korea has not yet put in place a full stablecoin framework, raising questions about which entities may issue won‑backed stablecoins and how they will be supervised.
Banks, fintech firms and crypto companies are already positioning themselves for the forthcoming regulations, viewing stablecoins as a promising instrument for payments, remittances and financial settlement.
Why This Matters
Dunamu runs Upbit, South Korea’s biggest crypto exchange by trading volume. Its market standing provides a sizable user base and considerable digital‑asset infrastructure, positioning it as a potential link between crypto markets and traditional financial services.
The firm has drawn increasing attention from leading Korean financial and technology players. Samsung, Hana Bank and NAVER have each taken stakes or pursued strategic connections with Dunamu as South Korea’s financial sector gears up for wider adoption of digital assets and stablecoins.
The Visa partnership brings another major global payments player into the ecosystem, with both companies examining how stablecoins and AI might integrate into mainstream financial infrastructure.
