Dunamu (Upbit's Parent Company) Partners with Visa to Develop Stablecoin Payments and AI Commerce Remittance Business

Dunamu and Visa to Develop Stablecoin Payments and AI Commerce Remittance Business

Dunamu, the South Korean company behind the cryptocurrency exchange Upbit, has reportedly entered into a strategic partnership with global payment giant Visa, according to local media.

Through this collaboration, both companies aim to build next-generation digital financial infrastructure and create new business opportunities. The partnership was announced at Visa's Global Market Support Center in San Francisco. The advanced digital asset technologies that Dunamu has developed in areas such as custody, security, remittance, and AML (anti-money laundering) will be integrated with Visa's vast payment network that spans the globe.

This integration will explore various possibilities for cross-border international remittances, fund settlement processing, and new era payment services. Dunamu's CEO, Oh Kyung-seok, pointed out that AI (artificial intelligence), stablecoins, and asset tokenization are significant trends that will greatly transform finance and commerce in the future, indicating a commitment to advancing the fusion of digital assets and traditional financial systems through this partnership.

Utilization of Stablecoins and the Positioning of "OUSD"

One of the key areas being considered by both companies is a payment and remittance model using stablecoins pegged to the value of the US dollar and other currencies. As part of this, business initiatives utilizing the US dollar-backed stablecoin "Open USD (OUSD)" launched by the consortium "Open Standard" are also under consideration.

Unlike traditional stablecoins like USDT and USDC, which are managed by a single specific company, OUSD is designed as a shared infrastructure managed collaboratively by multiple institutions. It features a mechanism where a portion of the operational profits is returned to financial institutions and exchanges that contribute to its circulation.

However, a Dunamu spokesperson explained that "OUSD is just one of the candidates under consideration, and there is no preference or exclusion of specific coins," maintaining a flexible stance.

Challenge of AI-Driven "Agentic Commerce"

Another focus area of this partnership is the integration of AI with financial infrastructure. Specifically, it will advance verification in the field of "agentic commerce" (autonomous commerce), where AI agents automatically handle the entire process from product search to purchase and payment on behalf of users.

By combining AI-driven purchasing decisions with an immediate and low-cost payment and settlement infrastructure using stablecoins, the aim is to create a new purchasing experience that transcends traditional e-commerce.

Visa's Moves in South Korea and Regulatory Trends

Visa is rapidly expanding its efforts to bridge digital assets and traditional finance in the South Korean market.

Recently, the company signed a strategic memorandum of understanding (MOU) with Shinhan Financial Group regarding stablecoins and AI payments, and continues to make active investments, including the rollout of numerous stablecoin-linked cards in about 40 countries worldwide.

However, whether these new services will be fully rolled out in South Korea depends on the progress of regulatory frameworks. Currently, the South Korean National Assembly is deliberating on the "Digital Asset Basic Law," and concerns have been raised by the central bank regarding the issuance of stablecoins by non-bank entities. There may be strict conditions imposed on the issuing entities, such as the equity ratio of commercial banks, and as the institutional design progresses, the specific service forms and launch timelines are expected to become clearer.

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