Dunamu and Visa Join Forces on Stablecoin Payments [Crypto Briefing]

[Financial News] Dunamu Inc., the operator of the virtual asset exchange Upbit, is entering into a strategic partnership with Visa on stablecoin-based payments. Specific services are expected to be developed gradually after technical and commercial reviews, as well as consideration of relevant domestic and international laws and regulatory requirements.
According to Dunamu Inc. on the 28th, the two companies signed the agreement the previous day (the 26th, local time) at Visa's Global Market Support Center in San Francisco.
The signing ceremony was attended by key officials from both companies, including Kyungseok Oh, CEO of Dunamu Inc., and Oliver Jenkyn, Global President of Visa.
The two companies agreed to connect stablecoins with global financial and payment infrastructure to expand the use of virtual assets. They also plan to explore a range of business models that could broaden the use of stablecoins based on the recently unveiled open standard Open USD (OUSD).
Visa previously unveiled the Visa Stablecoin Platform (VSP). The platform allows financial institutions, fintech firms, and virtual asset companies to use stablecoin features in an integrated environment managed by Visa.
Dunamu Inc. plans to support blockchain infrastructure and its expertise in virtual asset trading, custody, and transfers accumulated through operating Upbit. 
Oh said, "Artificial Intelligence (AI), stablecoins, and tokenization are key factors that will change how finance and commerce operate," adding, "We will create a new global financial experience that users can actually feel."

[email protected] Kim Mi-hee Reporter