MoonPay and Dunamu explore stablecoin payments, GIWA expansion
As competition intensifies in digital asset payments, MoonPay and Dunamu are moving to examine joint business opportunities in cross-border stablecoin transactions and blockchain-based financial services. The talks also extend to widening international access to Dunamu's GIWA chain, linking MoonPay's global network with the South Korean company's Ethereum Layer 2 infrastructure.
Highlights
- MoonPay and Dunamu are exploring strategic collaboration on stablecoin-based global payments, fund transfers, and treasury management, leveraging MoonPay's international network and Dunamu’s GIWA infrastructure.
- Dunamu, parent of Upbit, is pursuing a stock-swap merger with Naver Financial to launch joint stablecoin and payment services, expanding beyond its exchange operations.
- Hana Bank acquired a 6.55% stake in Dunamu for $755.6 million, reflecting heightened interest in digital assets amid South Korea's rollout of the Digital Asset Basic Act.
Collaboration focus and strategic scope
The Block reported that MoonPay announced on Wednesday it is pursuing a strategic collaboration with Dunamu, the parent company of Upbit, to jointly explore new business opportunities across crypto payments and treasury functions.The companies are evaluating potential cooperation in stablecoin-based global payments, fund transfers, corporate finance and treasury management. They also plan to examine how MoonPay's international services and network could connect with Dunamu's blockchain infrastructure to improve overseas market access for products and services built on GIWA.
South Korea digital asset push shapes backdrop
Dunamu, which operates South Korea's largest crypto exchange Upbit, is also pursuing a stock-swap merger with Naver Financial to launch joint stablecoin and payment services. That broader push suggests the company is expanding beyond exchange operations into payments and related digital finance segments.Earlier this year, Hana Bank acquired a 6.55% stake in Dunamu for 1 trillion won, or $755.6 million, as the bank stepped up its presence in stablecoins and digital assets. In parallel, South Korea is developing a comprehensive crypto framework called the Digital Asset Basic Act, which includes rules and requirements for the issuance and distribution of won-pegged stablecoins.
Our earlier analysis of the Nasdaq 100’s recent volatility focused on how AI supply-chain concerns and higher financing costs pressured large-cap tech, keeping the index below key moving averages despite a rebound. We also highlighted mixed momentum and oversold signals, with $29,868 identified as a pivotal resistance level traders were watching for any sustainable upside.
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