Dunamu Signs Digital Finance Innovation MOU with Kazakh Authorities

Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, announced on the 16th that it has signed a memorandum of understanding (MOU) with Kazakhstan's special management agency Alatau City Development Agency (ACA) and Alatau City Bank to develop digital financial infrastructure.

The signing ceremony took place on the 15th at a 'Korea-Kazakhstan Business Roundtable' held in Seoul's Gwanghwamun area during Kazakh President Kassym-Jomart Tokayev's official visit to South Korea.

One of the key areas of this collaboration is exploring the potential for real-world asset (RWA) tokenization and security token offerings (STOs). Dunamu has also agreed to explore cooperation on stablecoins, payment solutions, and other digital financial tools with Kazakh authorities.

Dunamu will provide technical expertise in tokenization and building digital infrastructure. ACA will support regulatory environment analysis and coordinate collaboration between local authorities and relevant institutions regarding potential regulations and pilot projects. Alatau City Bank plans to examine the feasibility of integrating RWA, stablecoins, and payment solutions with traditional finance (TradFi) systems while considering legal and regulatory requirements.

The three organizations plan to jointly review business models and projects by considering Kazakhstan's laws, regulations, and institutional conditions in the future. Specific projects, implementation methods, and collaboration formats will be determined through further discussions, with additional agreements made if necessary.

Kim Won-seok, Dunamu's Global Business Chief (CGBO) Deputy Executive, stated that this MOU signifies Dunamu's digital asset technology can contribute to global financial infrastructure development. He added that Dunamu aims to continue various collaborations to establish new standards for Korean digital asset finance in the global market.

Aliysh Almatov, Director of Alatau City Development Agency, expressed hope that through this collaboration with Dunamu, Kazakhstan could implement globally competitive financial infrastructure solutions. He emphasized that Alatau City's top priority is creating a safe environment to introduce innovative solutions and attract investment.