Visa Signs Second Korean Partnership This Week With Dunamu

Visa has signed its second partnership in South Korea this week, teaming up with Dunamu to explore stablecoin payments and global remittances. The deal marks the latest move by Visa into the Korean market.

Dunamu is the operator of Upbit, South Korea's largest cryptocurrency exchange. Hana Financial Group recently acquired a stake in Dunamu for $666 million. In contrast, Shinhan Financial, another major Korean financial group, partnered with Visa earlier this week to explore the use of the Visa Stablecoin Platform (VSP).

The VSP is led by OpenUSD, a stablecoin launched in June with 140 major partners sharing reserve revenues. Dunamu will work with Visa to develop business models for OpenUSD.