MoonPay and Dunamu, the operator of South Korean cryptocurrency exchange Upbit, announced on October 21 that they have agreed to explore a strategic collaboration focused on stablecoin payments, cross-border fund transfers, and blockchain-based corporate treasury infrastructure.
The proposed partnership would combine MoonPay’s global payments network with Dunamu’s blockchain capabilities. The companies plan to examine international fund transfers using stablecoins, digital asset infrastructure for corporate finance, and access to services built on GIWA, an Ethereum Layer 2 blockchain developed by Dunamu using the OP Stack.
The agreement remains exploratory, with no launch timeline, financial terms, supported stablecoins, or specific commercial agreements disclosed. Both firms said they would assess technical and commercial viability before deciding on implementation.
According to Bugeon Lee, MoonPay’s head of APAC, stablecoins need technology and networks that support not only cross-border payments but also real business operations. Dunamu hopes to use MoonPay’s international network to bring GIWA-based services and digital assets to overseas markets.
The announcement follows MoonPay’s September 29 establishment of MoonPay Korea and potential partnerships with Woori Bank, KB Financial Group, and KakaoBank. Dunamu has also held discussions with Visa on stablecoin payments and partnered with Hana Financial Group and POSCO International to pilot blockchain remittances using GIWA Chain. The move comes as South Korea develops its Digital Asset Basic Act and considers rules for won-backed stablecoins.
