Dunamu, the operator of South Korea’s largest cryptocurrency exchange Upbit, has entered a strategic partnership with Visa to explore stablecoin payments, global remittances and AI-driven financial services, according to a report published August 28, 2026, by South Korea’s Yonhap news agency. The companies are also considering business models involving Open USD, or OUSD, a dollar-backed stablecoin developed through the Open Standard initiative.
The agreement does not represent a product launch. The companies have not announced a specific service, launch date or technical structure, making the partnership an exploratory step toward potential stablecoin and AI-based payment services.
What the Partnership Covers
The collaboration focuses on three broad areas: stablecoin payments, international remittances and AI-driven financial services. Dunamu is expected to contribute its digital-asset and blockchain infrastructure, while Visa brings its global payments network.
The companies said they will examine potential payment and settlement models, but have not yet specified which stablecoin, blockchain, custody provider or settlement process would be used in a commercial service.
That distinction is important because the announcement establishes a framework for exploring potential services rather than confirming that Upbit users will soon be able to make payments or remittances using stablecoins.
Where OUSD Fits
OUSD is one of the potential components being considered under the partnership. Open USD was announced by Open Standard in June as a dollar-backed stablecoin designed for global payments and money movement. Open Standard says more than 140 companies are participating in its ecosystem, including Visa, Mastercard, Coinbase, BlackRock and other financial and technology companies.
Dunamu’s involvement requires some qualification. The company previously clarified that it was not participating in issuing OUSD after being included among businesses associated with the Open Standard initiative. Dunamu said at the time that it was considering participation in the ecosystem’s future expansion.
The new Visa partnership therefore does not make Dunamu an OUSD issuer. Instead, the two companies are evaluating whether OUSD could form part of a future business model. The broader OUSD rollout and the specific role of Dunamu remain separate from the partnership itself.
Why the Partnership Matters for Visa
The agreement adds another potential channel for Visa’s stablecoin strategy in South Korea. Visa has been expanding its stablecoin settlement infrastructure across multiple regions, blockchains and currencies, with the company saying its stablecoin settlement activity had reached an annualized run rate of about $7 billion as of March 2026.
A partnership with Dunamu could give Visa access to an established digital-asset infrastructure provider in South Korea, although the companies have not disclosed a commercial rollout or specific market strategy.
Visa has also been developing infrastructure around AI-directed transactions, adding another potential connection between the payments network’s existing work and Dunamu’s blockchain infrastructure.
Dunamu’s Stablecoin Push
The Visa agreement adds to Dunamu’s broader interest in blockchain-based payments and digital-asset infrastructure in South Korea.
The company has previously explored blockchain-based remittances and stablecoin-related initiatives with financial and technology partners, as South Korean lawmakers and regulators continue to develop rules for stablecoins and digital assets.
Dunamu’s position gives it a potential role in future domestic stablecoin infrastructure, but the company’s specific role will depend on the final regulatory framework and the structure of any products it launches.
AI Payments Add Another Layer
The partnership also extends beyond stablecoins into AI-driven payments and financial services. One area of development across the payments industry is “agentic commerce,” where AI systems can search for products or services and initiate transactions on a user’s behalf.
Visa has been developing infrastructure for AI-enabled commerce and transaction authorization. The Dunamu agreement could eventually connect that work with digital-asset payment infrastructure, but no specific technical integration has been announced.
The practical questions remain significant. Any system allowing AI agents to initiate payments would need clear controls around authorization, spending limits, identity, fraud prevention and liability.
South Korea’s Regulatory Framework Remains Important
The commercial scope of the partnership will also depend on South Korea’s evolving digital-asset regulatory framework.
South Korean lawmakers and regulators have been working on rules covering stablecoins and digital-asset businesses, including questions around who can issue won-denominated stablecoins and what role financial institutions should play. A stablecoin payment or remittance service could also involve requirements related to anti-money-laundering controls, customer identification, payments regulation and foreign-exchange rules.
As a result, the Visa-Dunamu agreement should be viewed as an early-stage business-development arrangement rather than evidence that a specific stablecoin payment product is ready for South Korean consumers.
What Comes Next
The next major milestone will be whether Dunamu and Visa announce a defined pilot or commercial product. That announcement would need to establish details such as the stablecoin being used, supported markets, blockchain infrastructure, custody arrangements and customer eligibility.
OUSD is one possible component of that future structure, but the companies have not committed to using it in a live product. For Visa, the partnership expands its potential reach into South Korea’s digital-asset ecosystem. For Dunamu, it provides a connection to a global payments network as the company explores stablecoins, remittances and AI-driven financial services.
Until the companies disclose concrete product details, however, the agreement remains a partnership to explore potential services rather than a launched stablecoin payment or remittance platform.
Also Read: JPMorgan Eyes Stablecoin as U.S. Banks Revisit Blockchain Payments
