Visa Teams with Upbit's Parent for Stablecoin Payments and AI Commerce
Visa has formed a strategic partnership with Dunamu, the parent company of South Korean cryptocurrency exchange Upbit. The two companies aim to explore stablecoin payments, cross-border remittances, and artificial intelligence-powered commerce.
The partnership will combine Dunamu's digital asset technology with Visa's global payments network to explore payment, remittance, and settlement services in major markets. 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.
The companies 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 Visa, Mastercard, Stripe, Coinbase, and BlackRock. Dunamu has not prioritized a specific stablecoin for the partnership.