Visa Expands South Korean Presence with Stablecoin and AI Partnership

Visa Inc., the global payment processor, has entered into a partnership with Dunamu, the operator of South Korea's top cryptocurrency platform Upbit. This is Visa's second significant collaboration in South Korea within days, following its pact with Shinhan Financial Group.

The partnership aims to develop innovative financial transaction services using stablecoin technology and artificial intelligence capabilities. The companies will investigate commercial frameworks utilizing OUSD, a stablecoin built on open standards, as well as AI-enhanced payment systems.

Visa's stock price dipped 1.2% to $379.23 on Friday, but analysts maintain 'Buy' recommendations with an average target of $414.54 per share. Institutional investors, including North Star Asset Management, have been increasing their holdings in Visa throughout the quarter.