Dunamu is pushing cooperation on digital finance infrastructure with the Kazakh government and financial institutions, including tokenisation of real-world assets (RWA), security token offerings (STO) and stablecoins.

Dunamu, operator of the Upbit digital asset exchange, said on Sept. 16 it signed a memorandum of understanding (MOU) with Kazakhstan’s special administrative body, the Alatau City Authority (ACA), and Alatau City Bank to develop Kazakhstan’s digital finance infrastructure.

The signing took place at the Korea-Kazakhstan Business Roundtable held on Sept. 15 at the Four Seasons Hotel in Gwanghwamun, Seoul, on the occasion of Kazakhstan President Kassym-Jomart Tokayev’s official visit to South Korea.

The key areas of cooperation are RWA tokenisation and a review of potential uses for STOs. The three institutions also plan to examine possible uses of digital finance tools, including stablecoins and payment solutions.

Dunamu will provide technical expertise needed for tokenisation-related solutions and building digital infrastructure.

The Alatau City Authority will support analysis of the local regulatory environment and discuss options for potential pilot projects. It also plans to coordinate cooperation with relevant government bodies and related organisations.

Alatau City Bank will review local laws, regulatory requirements and business feasibility, and explore cooperation opportunities in infrastructure linking digital assets such as RWA, stablecoins and payment solutions with the existing financial system.

The agreement is seen as a move by Dunamu to expand cooperation beyond its domestic digital asset exchange business to include tokenised financial infrastructure with overseas governments and financial institutions. Specific product launches or pilot project schedules have not been finalised.

Choi Won-seok (최원석), Dunamu vice president and chief global business officer, said the agreement is meaningful in that it can contribute to the development of global financial infrastructure. He said the company will work to ensure South Korea’s digital asset technology can set new standards in the global market.