- VISA and Dunamu (parent of exchange Upbit) formed a strategic partnership to explore stablecoin payments, cross-border remittances, and AI-powered commerce.
- The firms will combine Dunamu‘s digital asset technology with Visa‘s global payments network to develop payment, remittance, and settlement services in major markets.
- They are considering Open Standard‘s Open USD (OUSD) stablecoin, though not prioritized; over 140 companies including Visa, Mastercard, and BlackRock have signed up to use it.
- The partnership also includes exploring agentic commerce, where AI agents conduct purchases on behalf of users, combined with stablecoin infrastructure.
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, according to a Friday announcement.
The companies will combine Dunamu‘s digital asset technology with Visa‘s global payments network to develop payment, remittance, and settlement services in major markets.
Meanwhile, Dunamu CEO Oh Kyung-seok said, “The spread of AI, stablecoins and tokenization is a key trend that will change how finance and commerce operate,” adding that the partnership aims to connect digital assets with traditional finance.
Consequently, the firms are considering business models involving Open Standard‘s proposed Open USD (OUSD), a dollar-backed stablecoin unveiled in June. Open Standard said over 140 companies have signed up to use OUSD, including Visa, Mastercard, Stripe, Coinbase, and BlackRock.
However, Dunamu noted that OUSD is one of several stablecoin projects under review and that no specific stablecoin has been prioritized for the partnership. In July, Upbit clarified it was not participating in OUSD’s issuance after its operator was named among the initiative’s participants.
The companies will also explore agentic commerce, where AI agents search for products and make purchases on a user’s behalf. They will examine ways to combine AI with stablecoin payment and settlement infrastructure.
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