Dunamu, the operator of Upbit, a domestic virtual asset exchange, announced on the 28th that it has entered into a strategic partnership with global card company Visa to develop new financial services such as payments and remittances based on stablecoins. The company aims to generate成果 by combining Dunamu’s digital asset business and technology capabilities with Visa’s global payment and money movement network. It plans to further specify the form of services following reviews of relevant laws and regulations and technological and commercial aspects.

Dunamu and Visa announced the roadmap for their strategic partnership on the 27th at Visa’s Global Market Support Center in San Francisco, United States. While they have not yet finalized a specific service structure, they plan to review measures to enhance the convenience and efficiency of payments, remittances, and settlements by connecting stablecoins with existing financial and payment infrastructure. Stablecoins are virtual assets whose value is fixed by being pegged one-to-one to specific assets such as the US dollar or gold. Compared with general virtual assets, they have lower volatility, enabling more stable transactions and payments.

The two companies plan to progressively detail cooperative projects such as stablecoin-based payments and global remittances in accordance with relevant laws and regulatory requirements. They will seek stablecoin and digital asset-linked payment services in major global markets, and also explore business models based on the US dollar stablecoin OUSD, which was recently released as an open standard. They also plan to jointly identify new services and business models that combine artificial intelligence (AI) with stablecoin-based payment and settlement infrastructure.

Oh Kyung-seok, CEO of Dunamu, said, “Through cooperation with Visa, which has led the global payments sector, we will connect digital assets with traditional finance and create a new global financial experience that users can tangibly feel.”

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