Samsung SDS Partners with Upbit Operator Dunamu on Stablecoin Infrastructure

Samsung SDS, the IT services arm of Samsung Group, is exploring ways to expand its digital asset infrastructure with Dunamu, the operator of Upbit cryptocurrency exchange. The company's CEO, Lee Jun-hee, said during a second-quarter earnings call that it is discussing potential cooperation with Dunamu on stablecoin infrastructure, digital asset systems, and AI-based payment business models.

The news comes days after Samsung Electronics announced plans to add stablecoin support to its Samsung Wallet app. The company's strategic investment in Dunamu, which was made along with other Samsung affiliates, is aimed at deepening ties to South Korea's digital asset sector.

Samsung SDS' expansion into the digital asset market aligns with its broader push into AI and cloud services. The company reported a 5.9% year-on-year increase in Q2 revenue, driven by demand for its cloud platform and graphics processing unit-as-a-service offerings.