Visa partners with Dunamu to explore stablecoin payments

Visa and Dunamu formed a strategic partnership to explore stablecoin payments. Dunamu is the parent company of South Korean cryptocurrency exchange Upbit. The companies will combine Dunamu's digital asset technology with Visa's global payments network. They will explore payment, remittance and settlement services in major markets. The companies will also examine artificial intelligence-powered commerce. AI agents can search for products and services and make purchases and payments on a user's behalf. Dunamu CEO Oh Kyung-seok said the partnership aims to connect digital assets with traditional finance. Dunamu and Visa are considering business models involving Open Standard's proposed Open USD, or OUSD. OUSD is a dollar-backed stablecoin that Open Standard unveiled in June. Open Standard said more than 140 companies had signed up to use OUSD. Those companies include Visa, Mastercard, Stripe, Coinbase and BlackRock. Dunamu said OUSD is one of several stablecoin projects under review. Dunamu said it has not prioritized a specific stablecoin for the partnership. Upbit said in July that it was not participating in OUSD's issuance. The companies will examine ways to combine artificial intelligence with stablecoin payment and settlement infrastructure.