Samsung's SDS Courts Upbit's Dunamu Over Stablecoin Infrastructure 💸

Samsung SDS, the IT services arm of Samsung Group, confirmed it is exploring stablecoin infrastructure, digital asset systems and AI-based payment models with Dunamu, the operator of South Korean cryptocurrency exchange Upbit. CEO Lee Jun-hee disclosed the discussions during Samsung SDS's second-quarter earnings call on Thursday, describing them as potential cooperation rather than a finalized deal.

"We have 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 said. He said the relationship with Dunamu is expected to help Samsung SDS expand in the digital asset infrastructure market.

The talks come days after Samsung Electronics announced plans to add stablecoin support to Samsung Wallet, broadening the conglomerate's digital asset push. In May 2026, Samsung Securities, Samsung SDS and Samsung Card agreed to acquire a combined 4% stake in Dunamu, deepening the Samsung affiliates' ties to South Korea's digital asset sector. Lee told the Q2 call that the investment is a strategic move rather than a financial investment, adding that both companies plan to refine potential business models for digital financial infrastructure.

Samsung SDS's Q2 transcript stated: "By combining Samsung SDS's IT services, cloud, and security capabilities with Dunamu's blockchain expertise, we aim to lead this market." Samsung SDS did not immediately respond to a request for comment, while Dunamu declined to comment.

The digital asset initiative is part of a broader expansion that lifted Samsung SDS's Q2 revenue 5.9% year on year to 3.72 trillion Korean won ($2.6 billion), according to the quarterly earnings presentation. Cloud revenue increased 17% from a year earlier, with external cloud business revenue jumping 75%, driven by demand for Samsung's cloud platform and graphics processing unit-as-a-service offerings. The company also outlined plans to scale its AI infrastructure from 110 megawatts today to 230 MW by 2029 and more than 800 MW by 2031.