MoonPay and Upbit Parent Dunamu to Explore Stablecoin Payments Together
MoonPay and Dunamu look at joint stablecoin business
MoonPay, a crypto payments company, said it is pursuing a strategic collaboration with Dunamu, the parent company of South Korean crypto exchange Upbit. The two firms will jointly identify possible business opportunities, according to the announcement.
The stated areas include global payments and fund movement using stablecoins, plus corporate finance and treasury management. A stablecoin is a crypto token designed to hold a steady value, usually tied to a national currency.
What the two companies plan to explore
- Stablecoin-based global payments and fund movement.
- Corporate finance and treasury management.
- Wider global access to GIWA, Dunamu's Ethereum Layer 2 network. A Layer 2 is a separate network built on top of Ethereum to handle activity more cheaply or quickly.
- Connecting MoonPay's global services and network with Dunamu's blockchain infrastructure to open more overseas markets for GIWA-based products and services.
Context around Dunamu
Dunamu runs Upbit, which the source describes as South Korea's largest crypto exchange. The company is pursuing a stock-swap merger with Naver Financial, a tech giant's financial arm, to launch joint stablecoin and payment services.
Earlier this year, Hana Bank acquired a 6.55% stake in Dunamu for 1 trillion won, or about $755.6 million, as the bank pushed into stablecoins and digital assets.
What is confirmed
MoonPay announced the collaboration on Wednesday. Both companies have said they will jointly identify business opportunities in the listed areas and explore ways to broaden global access to GIWA. The details above about Dunamu's merger plan and Hana Bank's stake are reported in the source material.
What is still unclear
The announcement did not include specific products, timelines, or financial terms. It is not confirmed whether any particular service will launch. South Korea is also developing a broad crypto framework called the Digital Asset Basic Act, which would include rules and requirements for issuing and distributing won-pegged stablecoins; the source does not say how it would affect this collaboration.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.
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