Visa Teams Up with Upbit Parent on Stablecoin Payments and AI Commerce
Visa has partnered with Dunamu, the parent company of South Korean cryptocurrency exchange Upbit, to explore stablecoin payments and AI-powered commerce. The companies will combine Dunamu's digital asset technology with Visa's global payments network to explore payment, remittance, and settlement services in major markets.
The partnership aims to connect digital assets with traditional finance, according to Dunamu CEO Oh Kyung-seok. 'The spread of AI, stablecoins, and tokenization is a key trend that will change how finance and commerce operate,' he said.
Dunamu and Visa are considering business models involving Open Standard's proposed Open USD (OUSD), a dollar-backed stablecoin unveiled in June. Over 140 companies have signed up to use OUSD, including major players like Visa, Mastercard, Stripe, Coinbase, and BlackRock.