MoonPay and South Korean cryptocurrency exchange operator Dunamu are to examine a potential strategic partnership covering international stablecoin payments, cross-border transfers and blockchain infrastructure for corporate treasury operations.
The companies said in an October 21 press release shared with crypto.news that they would assess how MoonPay’s global payments network and partner base could be combined with Dunamu’s blockchain technology to support international financial services and corporate transactions.
The proposed cooperation has three main elements: stablecoin-based international fund transfers, digital asset infrastructure for corporate finance, and overseas access to services developed within Dunamu’s GIWA blockchain ecosystem.
The agreement remains exploratory. Neither company has announced a launch date, financial terms, specific commercial arrangements or the stablecoins that might be supported. They will first assess the technical and commercial viability of the proposed services before deciding whether to implement them.
Focus on cross-border business payments
MoonPay and Dunamu will initially consider how stablecoins could be used to move funds between markets, drawing on MoonPay’s international financial network and Dunamu’s experience in digital asset infrastructure.
Their discussions will also cover blockchain-based systems for companies managing money across jurisdictions, including transfers between business entities and other corporate finance operations.
The announcement did not identify any corporate customers involved in the talks. It also provided no details on transaction settlement, custody arrangements or the jurisdictions in which any eventual services could operate.
Dunamu plans to use MoonPay’s network of financial service providers and business partners to help take digital assets and services created within GIWA to international markets. The companies said combining Dunamu’s blockchain capabilities with MoonPay’s global infrastructure could create opportunities for digital asset services and support GIWA-based businesses seeking to expand overseas.
GIWA is an Ethereum Layer 2 blockchain developed by Dunamu using the OP Stack, with its infrastructure operated under an arrangement with Optimism. In May, Dunamu partnered with Optimism to develop the network through the Self-Managed OP Enterprise model, which enables the exchange operator to control its own sequencer infrastructure while receiving technical support from Optimism.
MoonPay’s South Korean expansion
The latest agreement follows MoonPay’s announcement on September 29 that it had established MoonPay Korea as part of a plan to develop stablecoin payments and digital asset infrastructure across Asia.
MoonPay has identified South Korea as a regional base and outlined possible partnerships with Woori Bank, KB Financial Group and KakaoBank involving payments, remittances and financial infrastructure.
The company said it would explore overseas distribution channels for won-denominated stablecoins if they are issued under South Korea’s developing regulatory framework. It also plans to seek the required licences and establish links with domestic financial systems.
Dunamu has been pursuing comparable initiatives. In August, the Upbit operator began discussions with Visa on stablecoin payments, international remittances and artificial intelligence-based financial services. The talks included potential Open USD business models, although no commercial payment service had been agreed.
In April, Dunamu also signed an agreement with Hana Financial Group and POSCO International to pilot blockchain remittances using GIWA Chain, with plans to process genuine trade transactions through POSCO International. The proposed system would combine payment messaging and settlement in one process, initially targeting corporate trade payments.
