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Samsung subsidiary cooperates with Upbit operators to explore stablecoin infrastructure

2026-07-31 00:17:05
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Samsung SDS, an IT services subsidiary of Samsung Group, is exploring stablecoin infrastructure, digital asset systems and artificial intelligence-based payment models with Dunamu, operator of Upbit, South Korea's largest cryptocurrency exchange.

Samsung SDS CEO Li Junxi said on the company's second-quarter earnings conference call on Thursday that the company is discussing potential cooperation with Dunamu on stablecoin infrastructure, digital asset systems and artificial intelligence-based payment business models.

Li Junxi said: "We have passed the Korea Securities Depository's tokenized securities platform project and end-to-end verification of the complete stablecoin process from issuance to settlement, and have differentiated in the field of digital asset infrastructure. Business capabilities." He expects the partnership with Dunamu to help Samsung SDS expand its business in the digital asset infrastructure market.

A few days before the news was announced, Samsung Electronics announced plans to increase support for stablecoins in Samsung's wallet to further expand the company's layout in the digital asset field.

Strategic investment targets digital finance

In May 2026, Samsung Securities, Samsung SDS and Samsung Card agreed to acquire a total of 4% of Dunamu to deepen the ties between Samsung affiliates and South Korea's digital asset sector.

In the latest second-quarter conference call, Li Junxi allegedly said that the company's investment in Dunamu was a strategic move rather than a financial investment, adding that the two companies planned to jointly improve the potential business model of digital financial infrastructure.

Second-quarter earnings records show: "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 Cointelegraph's request for comment, while Dunamu declined to comment.

Artificial intelligence growth supports broader expansion

The digital asset initiative is advanced as Samsung SDS continues to expand artificial intelligence and cloud services. These services helped second-quarter revenue increase by 5.9% year-on-year to 3.72 trillion won (approximately US$2.6 billion), according to quarterly earnings presentations.

Cloud revenue increased by 17% year-on-year, with external cloud business revenue jumping by 75%, driven by demand for Samsung's cloud platform and graphics processing unit-as-a-service products.

The company also reportedly has ambitious expansion plans to increase its artificial intelligence infrastructure from the current 110 MW to 230 MW by 2029 and more than 800 MW by 2031, highlighting its extensive layout of building artificial intelligence infrastructure in parallel with digital financial services.

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