MoonPay and Upbit's parent company Dunamu explore stablecoin payment collaboration

Global cryptocurrency payment company MoonPay announced that it is advancing strategic cooperation with Dunamu, the parent company of South Korea's largest cryptocurrency exchange Upbit, to jointly explore new business opportunities. The two parties will collaborate to discover new business directions in areas such as stablecoin cross-border payments and capital flow, corporate finance, and fund management.

They also plan to expand the global accessibility of Dunamu's Ethereum Layer 2 network GIWA and enhance the network's global connectivity. Specifically, both parties hope to connect MoonPay's global services and network with Dunamu's blockchain infrastructure to expand the coverage of GIWA-based products and services in overseas markets.

Dunamu is the operator of South Korea's largest cryptocurrency exchange Upbit and is currently advancing a stock swap merger with tech giant Naver Financial to launch a joint stablecoin and payment service. Earlier this year, Hana Bank acquired a 6.55% stake in Dunamu for 1 trillion won (approximately 755.6 million USD) to advance its layout in the stablecoin and digital asset fields. South Korea is also formulating a comprehensive cryptocurrency framework called the "Basic Law on Digital Assets," which includes rules for the issuance and distribution of stablecoins pegged to the Korean won.