The companies are reportedly discussing a partnership covering stablecoin payment infrastructure and growth of the GIWA project.
MoonPay and Dunamu are reportedly in talks about a potential partnership focused on stablecoin payments, according to a report from The Block. The discussions reportedly also include plans to expand GIWA, a blockchain project linked to Dunamu.
Dunamu is the parent company of Upbit, one of South Korea's largest cryptocurrency exchanges by trading volume. The firm has built influence across the country's digital asset market through its exchange business and related ventures. A deal with MoonPay would extend that reach into stablecoin payment infrastructure.
MoonPay has positioned itself as a bridge between traditional finance and crypto markets. The company offers on-ramp and off-ramp services that let users convert fiat currency into digital assets and back again. It has built partnerships with major crypto platforms and payment networks over recent years, aiming to simplify access to blockchain-based transactions for retail and institutional users alike.
Stablecoin payments have become a focal point for the industry in 2025 and 2026. Regulators in multiple jurisdictions have moved to clarify rules around stablecoin issuance and use. Payment companies and exchanges have responded by building out infrastructure meant to settle transactions using dollar-pegged or other fiat-referenced tokens, rather than relying solely on traditional banking rails.
GIWA appears to be part of that broader push. While details of the project remain limited based on current reporting, its association with Dunamu suggests it may serve as infrastructure supporting stablecoin or blockchain-based payment activity tied to the Upbit ecosystem. Any expansion would likely aim to widen GIWA's reach beyond its current scope, potentially incorporating MoonPay's payment technology or distribution network.
Neither MoonPay nor Dunamu has issued a formal public statement confirming the terms of a partnership, according to the available reporting. It remains unclear whether talks will result in a signed agreement, a joint venture, or simply a technology integration. The scope of any eventual deal, including geographic focus or specific payment rails involved, has not been detailed.
South Korea has emerged as one of the most active retail crypto markets globally, with Upbit regularly ranking among the top exchanges by trading volume. A collaboration between a dominant South Korean exchange parent and an established global payments firm would carry weight in a market where local regulatory nuance often shapes which international partners can operate effectively.
The timing of the reported talks coincides with a period of heightened stablecoin activity across Asia. Several regional governments have signaled interest in developing domestic stablecoin frameworks, partly to reduce reliance on US dollar-pegged tokens. Any Dunamu-linked payment infrastructure could factor into that broader regional conversation, though specifics of how GIWA fits into such plans have not been disclosed.
Market Impact
If confirmed, a partnership between MoonPay and Dunamu could expand stablecoin payment access for users connected to the Upbit ecosystem. It may also strengthen MoonPay's footprint in South Korea, a market with substantial retail trading volume and a complex regulatory environment for foreign crypto firms.
For the broader stablecoin sector, the talks reflect continued interest from exchange operators in building payment rails around dollar-pegged and fiat-referenced tokens. Expansion of GIWA, if it proceeds, could add another regional infrastructure option alongside existing stablecoin payment networks, though its competitive significance will depend on adoption details not yet made public.
The reported discussions between MoonPay and Dunamu remain at an early stage, with no confirmed agreement disclosed. Further details on GIWA's role and the scope of any partnership are likely to emerge as the companies clarify their plans.
Frequently Asked Questions
What is Dunamu's relationship to Upbit?
Dunamu is the parent company of Upbit, one of South Korea's largest cryptocurrency exchanges by trading volume.
What does MoonPay do?
MoonPay provides on-ramp and off-ramp payment services that allow users to convert fiat currency into cryptocurrency and back, partnering with exchanges and platforms globally.
What is GIWA?
GIWA is reported as a blockchain-related project linked to Dunamu, though specific technical details have not been publicly disclosed in the current reporting.
Has a formal partnership between MoonPay and Dunamu been confirmed?
No. According to the reporting, the two companies are exploring a possible collaboration, but no signed agreement has been publicly confirmed.
Originally reported by AltcoinGordon, written by Sophia Bennett. Republished with permission.
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