Dunamu, the parent company of Upbit, will partner with Naver Pay to advance the Korean Won stablecoin payment business.

Korean crypto exchange Upbit's parent company, Dunamu, has confirmed that it will cooperate with Naver Pay to promote the Korean Won stablecoin payment business. The project is led by Naver Pay, with Dunamu assisting, and plans to further clarify cooperation details after relevant regulations are implemented. Recently, Min Byung-doo, a member of the Democratic Party of Korea, proposed the "Digital Asset Basic Act," which allows the issuance of stablecoins denominated in Korean Won. Fintech companies and commercial banks are also applying for trademarks for their own brands in preparation for issuing stablecoins. [ChainCatcher]