Samsung SDS named stablecoin infrastructure as the first major collaboration area under its investment in Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit. Executives framed the stake as a move into digital asset infrastructure rather than a financial bet, and tied it to the company's cloud and AI buildout.
Samsung SDS said on its second-quarter earnings conference call on Wednesday that it has been discussing stablecoin infrastructure, AI-powered next-generation payments and virtual asset financial system integration with Dunamu. President Lee Joon-hee said the stake in Dunamu was made to enter the digital asset infrastructure business rather than as a financial investment.
Samsung SDS frames the Dunamu stake as an infrastructure play
Lee said the company intends to combine Dunamu's blockchain operating experience with its own IT services, artificial intelligence, cloud computing and cybersecurity capabilities to strengthen digital financial infrastructure. He added that both companies are considering business opportunities spanning stablecoin infrastructure, AI-based payment systems and system integration services built around virtual assets, and that discussions continue as they work toward concrete business models.
Those remarks are the clearest description yet of a deal struck in May, when Samsung Securities, Samsung SDS and Samsung Card agreed to acquire a combined 4% stake in Dunamu for 612.8 billion won, or about $408 million, buying 1.39 million shares from Kakao-linked entities. Samsung SDS took a 1% stake, Samsung Securities 2% and Samsung Card the remaining 1%.
Samsung's wallet and its infrastructure now point the same way
The comments come less than a week after Samsung Electronics disclosed plans to bring stablecoin support to Samsung Wallet. At the Galaxy Unpacked event on July 24, Samsung Electronics said the application will support stablecoins alongside payments, rewards and digital assets, though it did not disclose launch dates, supported tokens, blockchain networks or regional availability.
That direction differs from Samsung's response to Open Standard's proposed OUSD stablecoin consortium earlier this month. According to the South Korean newspaper Chosun, Samsung said it had not held formal consultations with Open Standard and did not know what role it was expected to play after being listed as a founding consortium member.
Cloud and AI capacity underwrite the blockchain push
Samsung SDS reported second-quarter revenue up 5.9% year over year to 3.7178 trillion won, with operating profit rising 0.7% to 231.8 billion won. Revenue from the cloud business increased 17% to 779.4 billion won, while external cloud business revenue jumped 75% year over year.
The company currently operates about 110 megawatts of AI infrastructure and plans to expand capacity to 230 megawatts by 2029. According to Samsung SDS, that figure is expected to exceed 800 megawatts by 2031 when design, construction and operational projects are included.
Source: crypto.news
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