Dunamu and MoonPay to Explore Stablecoin Payments
Dunamu, the South Korean company behind Upbit, and financial-services firm MoonPay plan to explore stablecoin transfers, blockchain tools for corporate finance and overseas access to Dunamu’s GIWA ecosystem. They have not announced a product or committed to launching one.
- Potential uses include cross-border transfers and corporate treasury.
- MoonPay says its partner network could help bring GIWA-based services and assets to overseas markets.
- Supported stablecoins, launch timing, target markets and operating arrangements remain unspecified.
Three areas under consideration
In a press release distributed through PR Newswire, MoonPay and Dunamu said they would assess possible uses for stablecoins in international payments and fund transfers. They also plan to examine digital-asset infrastructure for corporate finance and treasury, and ways to expand overseas access to services and digital assets within GIWA.
MoonPay said the companies hope to use their global networks and partner relationships to broaden access to GIWA-based offerings. That is the partnership’s stated goal, not confirmation that a service is operating or that customers have signed on.
The announcement leaves basic questions unanswered. Which stablecoins might be supported? Where could transfers take place, and which businesses might use the services? The companies have not explained how conversion, settlement or custody would work, either. No launch schedule or commercial terms were provided.
A stablecoin is a digital asset designed to maintain a relatively stable value, often by tracking a currency. Using one for a business payment involves more than moving tokens between wallets. Companies must also consider access to banking and payment systems, liquidity, compliance, currency conversion and who holds or controls the funds.
The corporate treasury use case
MoonPay’s head of APAC, Bugeon Lee, described a use beyond consumer transfers, saying stablecoin infrastructure must support “not only cross-border payments and fund transfers, but also the real financial operations of businesses…”
Corporate treasury covers how a business manages its money, from holding funds to paying suppliers across markets. MoonPay and Dunamu may assess blockchain infrastructure for those tasks, but they have not said that companies are already using their proposed system for treasury operations.
Regulation is another factor, particularly for services involving stablecoin issuance, distribution or payments in South Korea. The U.S. Commercial Service reported that the Virtual Asset User Protection Act, which took effect in July 2024, does not establish a comprehensive framework for stablecoin issuance, distribution and use beyond virtual-asset trading. Its report said broader legislation remained under consideration as of September 2026. That is a dated snapshot, not confirmation of the rules’ status after that point.
The regulatory debate involves a real trade-off. Stablecoins could offer new ways to move money, while policymakers weigh their potential effects on financial stability, monetary policy, foreign-exchange markets and payment systems. The partnership announcement does not say which licenses or approvals a future service might require.
What GIWA contributes and what remains unclear
GIWA is Dunamu’s blockchain ecosystem. The companies want to explore whether its services and digital assets could reach international markets, but they have not named the offerings involved or explained how overseas access would work.
The announcement gives no technical details about a potential payment flow. A blockchain can be part of a settlement process, but it does not answer how funds are converted, who holds them, how transactions are monitored or which parties handle compliance.
MoonPay and Dunamu: Key Questions
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Have MoonPay and Dunamu announced a stablecoin service?
No. They plan to explore possible services and assess their technical and commercial viability before deciding whether to proceed.
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What uses are they considering?
International transfers, blockchain infrastructure for corporate finance and treasury, and overseas access to GIWA-based services and digital assets.
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Which stablecoins and markets are involved?
None have been named. The announcement also does not identify customers, payment corridors, custody arrangements or settlement methods.
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When could a service launch?
No timeline has been disclosed, and the companies have not committed to launching a product.
The proposal reflects a wider ambition for stablecoins: supporting the routine financial operations of businesses, not just transfers between crypto wallets. Whether that becomes a working service will depend on unresolved details, including commercial demand, operating design and the rules governing its use.
