Samsung SDS Unveils Stablecoin Infrastructure Plans with Dunamu
Samsung SDS has outlined its plans to develop stablecoin infrastructure in collaboration with Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit. The company said it made a 1% stake investment in Dunamu as part of a strategy to build digital asset infrastructure rather than a financial investment.
The two companies are discussing business opportunities spanning stablecoin infrastructure, AI-based payment systems, and system integration services built around virtual assets. Samsung SDS President Lee Joon-hee said the company intends to combine its own IT services, artificial intelligence, cloud computing, and cybersecurity capabilities with Dunamu's blockchain operating experience to strengthen digital financial infrastructure.
The comments provide the clearest description yet of Samsung SDS's plans after it invested in Dunamu earlier this year. The investment was made as part of a 4% stake purchase in Dunamu for 612.8 billion won, or about $408 million, by purchasing 1.39 million shares from Kakao-linked entities.