Bitcoin World News reports that on July 12 (UTC+8), Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, is advancing mutual shareholding with leading payment platform Naver Pay, planning to jointly create a Korean won stablecoin alliance. It is reported that both parties have begun cooperation around the issuance, circulation, and payment of the Korean won stablecoin and are in the process of equity acquisition, with the possibility of establishing a joint venture (JV) in the future to further form a stablecoin consortium. Naver Pay may be responsible for the stablecoin issuance, while Upbit would become the main circulation channel, similar to the USDC ecosystem between Coinbase and Circle. The new South Korean government is exploring the introduction of the Korean won stablecoin through a regulatory sandbox, with consortiums that have strong capital and credibility likely to receive priority approval, making the partnership between Dunamu and Naver Pay a strong candidate. (Source: Decenter)

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