Visa works with Upbit parent on stablecoin payments, AI commerce

Visa and Dunamu, the parent company of South Korean cryptocurrency exchange Upbit, have partnered to explore stablecoin payments, cross-border remittances, and AI-driven commerce. The companies aim to leverage Dunamu's digital asset technology alongside Visa's global payments network to create payment, remittance, and settlement services in major markets.

Dunamu CEO Oh Kyung-seok stated that the rise of AI, stablecoins, and tokenization will significantly transform finance and commerce. The partnership will examine business models involving Open Standard's proposed Open USD (OUSD), a dollar-backed stablecoin launched in June, which has been adopted by over 140 companies, including Visa, Mastercard, Stripe, Coinbase, and BlackRock.

Dunamu and Visa have not prioritized a specific stablecoin for the partnership. The collaboration will also delve into agentic commerce, where AI agents can search for products and services and execute purchases and payments on behalf of users, integrating AI with stablecoin payment and settlement infrastructure.