Circle Internet Financial, the issuer of the USDC stablecoin, has signed a strategic Memorandum of Understanding (MOU) with South Korean fintech giant Dunamu. The partnership is designed to expand stablecoin adoption and strengthen digital asset infrastructure within South Korea's strictly regulated market. Dunamu is the operator of Upbit, the country's leading digital asset exchange by trading volume and user activity.
The agreement outlines joint efforts focused on three key areas: education, market transparency, and regulatory alignment. The companies will coordinate on infrastructure and ecosystem development tied to stablecoin usage. Circle aims to extend the reach of USDC within a compliant framework, leveraging Dunamu's large and active user base. Educational programs will target both retail and institutional participants to improve understanding of digital assets and blockchain technology, aiming to reduce misinformation and build a more stable trading environment.
Concurrently, Circle CEO Jeremy Allaire, speaking at a press conference in Seoul, addressed unrelated geopolitical speculation. He firmly denied claims that USDC could be used for transit fees in the Strait of Hormuz, calling such a scenario "extremely unlikely." Allaire emphasized that Circle's strict regulatory compliance and the ability to freeze assets make USDC unattractive for sanctioned transactions, which typically prefer less regulated alternatives.
This partnership reflects a broader industry trend of collaboration between exchanges and stablecoin issuers to foster compliant innovation. Circle's move deepens its strategic footprint in Asia and aligns its global compliance standards with South Korea's rigorous oversight, supporting long-term growth in the region's digital asset sector.
