MoonPay (@moonpay) is in talks with Dunamu, the company behind South Korean crypto exchange Upbit (@Official_Upbit), about a strategic collaboration focused on stablecoin payments and corpora
MoonPay (@moonpay) is in talks with Dunamu, the company behind South Korean crypto exchange Upbit (@Official_Upbit), about a strategic collaboration focused on stablecoin payments and corporate finance. The two firms also want to connect MoonPay's global network with GIWA, Dunamu's Ethereum Layer 2 network.
According to the announcement, the two companies will jointly identify new business opportunities across areas including stablecoin-based global payments and fund movement, and corporate finance and treasury management. Cross-border payments and fund transfers using stablecoins are the first area of focus. They will review a range of cases in which digital assets can be used for cross-border payments and fund transfers, and examine the business potential of new financial service models.
The arrangement is exploratory. Neither company disclosed financial terms, a launch schedule, or specific commercial agreements.Both companies will assess the technical and commercial viability of the proposed services before making any decisions on implementation.
Bugeon Lee, Head of APAC at MoonPay, said stablecoins need technology and a network that support not only cross-border payments and fund transfers, but also the real financial operations of businesses.
A central part of the talks involves GIWA. The companies seek to link MoonPay's global services and network with Dunamu's blockchain infrastructure to increase overseas market access for GIWA-based products and services.
Dunamu announced the chain in September 2025. Built on Optimism's OP Stack, GIWA aims to provide a block time of just one second.Because the chain's code is written in Solidity, developers can build on it using the tools they already have. The network is also designed to support a local currency-pegged stablecoin, which was still under development at the time of the launch announcement, according to The Block.
The talks come as Dunamu expands its stablecoin ambitions at home. Dunamu is pursuing a stock-swap merger with tech giant Naver Financial to launch joint stablecoin and payment services. MoonPay has also been building a presence in the country. MoonPay announced on September 29 that it had set up MoonPay Korea as part of plans to develop stablecoin payments and digital asset infrastructure in Asia, according to Bitbase.
For MoonPay, a tie-up with Korea's largest exchange operator could add a distribution channel in a market where stablecoin regulation is still developing. For Dunamu, it offers a route to take GIWA beyond its home market. Both outcomes depend on whether the exploratory talks lead to commercial agreements.
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