 |
Upbit. (Photo courtesy of Dunamu) |
[Alpha Biz= Paul Lee] Dunamu, operator of South Korea’s leading cryptocurrency exchange Upbit, announced a partnership with Naver Pay to jointly explore business opportunities in the development of a Korean won-pegged stablecoin.
A Dunamu representative stated on July 1, "Upbit has agreed to support Naver Pay’s stablecoin initiative pegged to the Korean won," adding that detailed plans will be discussed once a legal and regulatory framework is established.
The company also noted that the issuance entity and form of collaboration will be determined in accordance with future regulatory guidelines.
A KRW-pegged stablecoin is a type of cryptocurrency designed to minimize price volatility by linking its value to the Korean won.
Naver Pay had previously expressed its ambition to take a leading role in the stablecoin space during its “Npay Media Day 2025” event held on June 26. Industry observers expect that a consortium led by Naver Pay may soon be formed to advance the project, with Dunamu and Upbit anticipated to be key participants.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
