Dunamu, the operator of South Korea’s largest crypto exchange Upbit, and Visa have signed a strategic partnership to explore stablecoin payments, cross-border remittances and AI-powered financial services.
The companies plan to combine Dunamu’s digital-asset infrastructure with Visa’s global payments network. They have not announced a commercial product or launch date.
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The partnership will focus initially on potential stablecoin-based payment, remittance and settlement services. Any projects would be developed in stages, subject to local regulations and requirements related to stability, transparency and interoperability.
Dunamu and Visa Examine OUSD Stablecoin Use
According to an official announcement, the companies also said they would explore potential business models involving Open USD (OUSD), a dollar-backed stablecoin initiative.
OUSD is a dollar-backed stablecoin developed through the Open Standard initiative, which counts Visa among the list of more than 140 global partners.
The dollar-backed stablecoin has not launched yet. It is being developed as shared payments infrastructure, with no minting or redemption fees at scale and most income generated from its reserves flowing back to participating companies.
OUSD has not yet launched. The partnership does not commit Dunamu to using OUSD, and the companies did not announce plans for a specific OUSD product.
AI Payments and Agentic Commerce
The partnership will also examine AI-based payments, including “agentic commerce,” in which AI agents could search for products or services and complete purchases and payments on behalf of users.
Dunamu CEO Oh Kyung-seok said the partnership aims to connect 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 yet to establish a comprehensive stablecoin regime, leaving questions over who will be allowed to issue won-backed stablecoins and how they will be regulated.
Banks, fintech companies and crypto firms are positioning themselves ahead of the new rules, with stablecoins increasingly viewed as a potential tool for payments, remittances and financial settlement.
Why This Matters
Dunamu operates Upbit, South Korea’s largest crypto exchange by trading volume. Its market position gives it a large user base and significant digital-asset infrastructure, making it a potential bridge between crypto markets and traditional financial services.
The company has attracted growing interest from major Korean financial and technology groups. Samsung, Hana Bank and NAVER have all taken positions or pursued strategic ties involving Dunamu as South Korea’s financial sector prepares for broader adoption of digital assets and stablecoins.
The Visa partnership adds another major global payments company to that ecosystem, as both firms explore how stablecoins and AI could become part of mainstream financial infrastructure.
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