Samsung unit explores stablecoin talks with Upbit operator
Samsung SDS is discussing stablecoin infrastructure, digital asset systems and AI-based payment models with Dunamu, the operator of South Korea's Upbit exchange. The Samsung unit explores stablecoin infrastructure as a strategic digital-finance push, CEO Lee Jun-hee said on the firm's second-quarter earnings call.
Key Takeaways
- Samsung SDS is talking with Dunamu about stablecoin infrastructure and AI-based payment models.
- CEO Lee Jun-hee said the firm has validated the full stablecoin process from issuance to settlement.
- Samsung Securities, Samsung SDS and Samsung Card agreed in May 2026 to buy a combined 4% stake in Dunamu.
- The news came days after Samsung Electronics planned to add stablecoin support to Samsung Wallet.
- Samsung SDS did not immediately comment further; Dunamu declined to comment.
What is Samsung SDS discussing with Upbit's operator?
Samsung SDS, the IT services arm of Samsung Group, is exploring cooperation with Dunamu on stablecoin infrastructure, digital asset systems and AI-based payment business models. Lee outlined the talks during Thursday's second-quarter earnings call.
He said Samsung SDS has already secured differentiated business capabilities in digital asset infrastructure through the Korea Securities Depository's tokenized securities platform project and through end-to-end validation of the full stablecoin process from issuance to settlement. Lee expects the Dunamu relationship to help the company expand in the digital asset infrastructure market.
According to Cointelegraph, Samsung SDS did not immediately respond to a request for comment, while Dunamu declined to comment.
Why does the Dunamu relationship matter for Samsung?
In May 2026, Samsung Securities, Samsung SDS and Samsung Card agreed to buy a combined 4% stake in Dunamu, deepening Samsung affiliates' ties to South Korea's digital asset sector. Lee described the Dunamu investment as a strategic move rather than a financial investment.
Both companies plan to refine potential business models for digital financial infrastructure. A Q2 transcript cited by Cointelegraph said Samsung SDS aims to combine its IT services, cloud and security capabilities with Dunamu's blockchain expertise to lead that market.
The development also arrived days after Samsung Electronics unveiled plans to add stablecoin support to Samsung Wallet, broadening the group's digital asset push. More related coverage is in our Fintech & Crypto Alerts hub.
How does this fit Samsung SDS's wider AI and cloud push?
The digital asset initiative coincides with Samsung SDS's expansion in AI and cloud services. Those businesses helped lift second-quarter revenue 5.9% year on year to 3.72 trillion Korean won ($2.6 billion), according to the quarterly earnings presentation.
Cloud revenue rose 17% from a year earlier, while external cloud business revenue jumped 75%, driven by demand for Samsung's cloud platform and graphics processing unit-as-a-service offerings.
The company also outlined plans to expand AI infrastructure from 110 megawatts today to 230 MW by 2029 and more than 800 MW by 2031, underscoring a broader push to build AI capacity alongside digital finance services.