TLDR
- MoonPay and Dunamu plan to explore stablecoin-based international payments and corporate treasury services.
- The companies aim to connect GIWA blockchain services with overseas markets through MoonPay’s global network.
- Neither company has announced financial terms, supported stablecoins, or a commercial launch date.
- Dunamu’s expansion plans come as South Korea develops stablecoin regulations and the company pursues a merger with Naver Financial.
MoonPay and South Korean crypto exchange operator Dunamu plan to explore stablecoin payments, business finance, and wider access to blockchain services. The companies announced the proposed collaboration on October 21, with an initial focus on moving money across borders and connecting businesses to digital asset infrastructure.
MoonPay Targets Cross-Border Stablecoin Payments
The companies will examine whether stablecoins can support international transfers through their existing systems. MoonPay would contribute its global payment network, while Dunamu would provide blockchain technology and experience running Upbit, South Korea’s largest cryptocurrency exchange.
The announcement follows other moves into blockchain payments. Last week, Mastercard launched a platform linking stablecoins with business payments, including overseas transfers and bank payouts. MoonPay and Dunamu have not identified which stablecoins their proposed services might support.
Corporate Treasury Services Under Review
The partners will study how companies could use digital assets in their daily financial operations. Their review covers treasury management, corporate transfers and possible services that connect blockchain systems with established financial networks.
However, the agreement remains exploratory. Neither firm disclosed investment figures, customer commitments or a launch date. Both companies intend to assess technical requirements and commercial demand before deciding whether specific products can move forward.
GIWA Blockchain Seeks Global Connections
Dunamu also wants to bring more international users and partners to GIWA, its Ethereum Layer 2 network. The wider Ethereum ecosystem has attracted institutional payment activity. This week, JPMorgan expanded its deposit token to Ethereum, although the bank does not classify JPM Coin as a stablecoin.
Under the proposed arrangement, MoonPay would help connect GIWA-based products with overseas markets. Bugeon Lee, MoonPay’s Asia-Pacific head, said stablecoin systems need to serve businesses beyond basic money transfers. The companies will examine how their networks could work together.
South Korea Develops Stablecoin Rules
Dunamu’s plans come as South Korea prepares its Digital Asset Basic Act, including proposed rules for won-backed stablecoins. Separately, Injective and BDACS outlined plans for a won-pegged token for asset settlement, subject to regulatory approval.
Dunamu is pursuing a stock-swap merger with Naver Financial. The proposed deal aims to create a new joint stablecoin and payment services. Hana Bank acquired a 6.55% stake in Dunamu in June for about 1 trillion won.
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