MoonPay and Dunamu, the parent company of South Korean cryptocurrency exchange Upbit, are pursuing a strategic collaboration focused on stablecoin payments, corporate treasury tools and global access to Dunamu’s Ethereum Layer 2 network, GIWA.
The proposed work would connect MoonPay’s international payment and service network with Dunamu’s blockchain infrastructure, giving products built on GIWA a potential route to overseas users and businesses. The companies said their discussions cover stablecoin-based cross-border payments and fund movement, alongside corporate finance and treasury management services.
The announcement places stablecoins at the center of Dunamu’s international strategy as South Korea prepares rules for won-pegged digital currencies. It also arrives while Dunamu is working on a separate stock-swap merger with Naver Financial, a deal intended to support joint stablecoin and payment services.
Stablecoin payments and corporate cash management
MoonPay and Dunamu said they will explore business opportunities around stablecoin payments, particularly for moving money internationally. Stablecoins are cryptoassets designed to maintain a fixed value against an external asset, commonly a national currency, and are increasingly being considered for settlement and payment functions where conventional transfers can be slower or more fragmented across borders.
The companies also identified corporate finance and treasury management as an area of cooperation. In practical terms, that could include tools for businesses to manage stablecoin balances, make payments, or move funds across markets using blockchain-based infrastructure. Neither company outlined a product launch timetable, supported currencies, commercial terms, or the jurisdictions where any service could initially become available.
MoonPay operates payment and on-ramp services that allow users to buy and sell digital assets through traditional payment methods. Dunamu brings a South Korean crypto market presence through Upbit, as well as an expanding interest in blockchain infrastructure and payment-related services.
Their planned collaboration reflects a move beyond retail crypto trading toward the financial plumbing surrounding digital assets. Cross-border fund transfers and corporate treasury operations are areas where stablecoins could be useful, but they also bring compliance, liquidity and reserve-management requirements that differ sharply by market.
GIWA seeks international connections
A second part of the proposed collaboration concerns GIWA, Dunamu’s Ethereum Layer 2 network. Layer 2 networks process transactions separately from Ethereum’s main blockchain before recording or settling results back to it, aiming to reduce transaction costs and increase capacity.
MoonPay and Dunamu said they want to broaden global access to GIWA and expand the network’s international connectivity. The companies plan to explore linking MoonPay’s services and network with Dunamu’s infrastructure, potentially helping products and services developed on GIWA reach users outside South Korea.
That objective gives the partnership a different role from a simple payment integration. Dunamu appears to be seeking distribution and connectivity for an ecosystem built around its own network, while MoonPay could provide a familiar payment layer for users entering those services.
The strategy depends on execution beyond technical access. Networks seeking overseas users need payment channels, local compliance arrangements and applications that give people a reason to use the chain. The companies have not named any GIWA-based applications that would be included in the collaboration.
Dunamu builds around payments
The MoonPay talks sit alongside Dunamu’s planned stock-swap merger with Naver Financial. The companies are pursuing the transaction to launch joint stablecoin and payment services, connecting one of South Korea’s best-known cryptocurrency businesses with a major domestic financial technology operation.
A merger with Naver Financial would give Dunamu a separate channel for approaching digital payments, while the MoonPay collaboration is aimed at international business opportunities. Together, the initiatives suggest Dunamu is assembling partnerships around stablecoin use rather than relying only on exchange activity.
Hana Bank’s purchase of a 6.55% stake in Dunamu earlier this year added another financial-sector connection. The bank acquired the holding for 1 trillion won, or about $755.6 million, according to the terms provided. The transaction illustrates the scale of interest surrounding Dunamu as banks and technology companies assess their positions in digital asset payments and tokenized financial services.
The available information does not establish that Hana Bank’s stake is tied to the MoonPay discussions, GIWA, or the proposed Naver Financial merger. Yet the investment gives Dunamu an additional institutional shareholder while it explores payment-related expansion.
South Korea prepares stablecoin rules
The timing is shaped by South Korea’s proposed Digital Asset Basic Act, a broader crypto framework that includes rules and requirements for issuing and distributing won-pegged stablecoins.
The framework could influence which companies are able to offer stablecoin products domestically, the reserve and operational standards they must meet, and how those products connect to payment services. Detailed rules will determine whether local banks, fintech companies, crypto platforms or joint ventures gain the clearest path to issue and distribute won-based stablecoins.
Dunamu’s relationships with MoonPay and Naver Financial point toward two different markets under that evolving framework. MoonPay could help address international access and cross-border payment links, while Naver Financial could provide a domestic payments partner if the merger proceeds.
For MoonPay, the collaboration offers a potential entry point into a South Korean market where established local companies retain substantial influence over cryptocurrency trading and payments. For Dunamu, it could extend GIWA and stablecoin-focused services beyond the domestic market without requiring the company to build every payment connection independently.
For deeper insight into regional adoption, explore why stablecoins matter in Asia’s fast-evolving crypto landscape.
Disclaimer: The content on this page is provided for general informational purposes only and does not represent the views or financial advice of Toobit. We make no guarantees regarding the accuracy or completeness of this information and shall not be held liable for any errors, omissions, or outcomes resulting from its use. Investing in digital assets involves risk; users should independently evaluate their financial situation and the risks involved. For further details, please consult our Terms of Service and Risk Disclosure.
