Visa is broadening its presence in South Korea’s cryptocurrency market through a partnership with Dunamu, the operator of Upbit, CoinDesk reports. The move follows a separate deal with Shinhan Financial and gives the global payments company another connection to the country’s digital-asset sector. The collaboration focuses on stablecoin payments, as Visa increases its activity in South Korea, described in the report as Asia’s major crypto hub. Upbit is South Korea’s largest cryptocurrency exchange, making Dunamu a significant local partner for Visa’s expansion. The announcement adds to the payments giant’s recent efforts to develop stablecoin-related relationships in the region. The report did not provide further details on the structure of the Dunamu agreement, the stablecoins involved, or any launch timetable. The development is relevant to market participants tracking adoption of stablecoin payment infrastructure and partnerships between traditional financial companies and crypto-industry firms.
