Visa and Dunamu, the parent company of South Korean cryptocurrency exchange Upbit, have formed a strategic partnership to explore stablecoin payments, cross-border remittances and artificial intelligence-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, according to a Friday announcement from Dunamu.
“The spread of AI, stablecoins and tokenization is a key trend that will change how finance and commerce operate,” Dunamu CEO Oh Kyung-seok said, adding that the partnership aims to connect digital assets with traditional finance.
Dunamu and Visa are considering business models involving Open Standard’s proposed Open USD (OUSD), a dollar-backed stablecoin unveiled in June. Open Standard said more than 140 companies had signed up to use OUSD, including Visa, Mastercard, Stripe, Coinbase and…
