Samsung SDS Partners with Dunamu to Develop Stablecoin Infrastructure
Samsung SDS has outlined plans to develop stablecoin infrastructure in collaboration with Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit. The move comes after Samsung SDS acquired a 1% stake in Dunamu through its investment earlier this year.
According to Lee Joon-hee, President of Samsung SDS, the company's investment in Dunamu was made to enter the digital asset infrastructure business, not as a financial investment. He stated that Samsung SDS intends to combine Dunamu's blockchain operating experience with its own IT services, artificial intelligence, cloud computing, and cybersecurity capabilities to strengthen digital financial infrastructure.
The companies are considering business opportunities spanning stablecoin infrastructure, AI-based payment systems, and system integration services built around virtual assets. Lee added that discussions are continuing as both sides work toward developing concrete business models.