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Samsung SDS, Dunamu in Stablecoin Talks as Cloud Revenue Surges 75%

Crypto▲ Bullish

Samsung SDS, Dunamu in Stablecoin Talks as Cloud Revenue Surges 75%

2026-07-30 15:16 UTCBy AlphaScala Research DeskSource reporting: The Currency AnalyticsEditorial standards

Samsung SDS, Dunamu in Stablecoin Talks as Cloud Revenue Surges 75%

Samsung SDS CEO says Dunamu collaboration covers stablecoin infrastructure and AI payments, as cloud revenue jumps 75% and AI capacity targets 800MW by 2031.

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Samsung SDS is in active talks with Dunamu, the company behind South Korea's dominant crypto exchange Upbit, on building stablecoin infrastructure and AI-driven payment systems. The discussions came to light during Samsung SDS's second-quarter earnings call, where CEO Lee Jun-hee spoke openly about the collaboration.

Lee said the two companies are looking at stablecoin infrastructure and AI-based payment models. He pointed to Samsung SDS's existing work on the Korea Securities Depository's tokenized securities platform as a proof-of-concept. Just before the earnings call, Samsung Electronics separately disclosed plans to add stablecoin support inside Samsung Wallet, which made the Dunamu talks feel less like an experiment and more like a coordinated push across the Samsung group.

Earlier this year, Samsung affiliates – Samsung SDS among them – picked up a 4% stake in Dunamu. That is not a passive bet. It gives the group a direct financial interest in the operator of Upbit, South Korea's largest crypto exchange.

Neither Samsung SDS nor Dunamu commented further.

The digital asset push sits on top of a solid financial quarter. Second-quarter revenue rose 5.9% to 3.72 trillion Korean won, or roughly $2.6 billion. Cloud was the engine. Overall cloud revenue jumped 17%, but the external cloud business – the part that sells to clients outside the Samsung group – surged 75%. That growth is driven by demand for Samsung SDS's cloud platform and GPU-as-a-service products, as companies scramble to build AI capacity.

Separate from the Dunamu angle, Samsung SDS has laid out an AI capacity roadmap. The company currently runs 110 megawatts of AI infrastructure. It wants to hit 230 MW by 2029. And then – this is the number that raised eyebrows – over 800 MW by 2031. That is more than a sevenfold increase from where it stands today. No details on exactly how that capacity gets built or funded, but the targets are on the record.

Stablecoin infrastructure, if Samsung SDS and Dunamu actually build it out, would benefit from exactly this kind of compute backbone. Running real-time payment systems, settlement layers, and AI-based compliance or fraud detection at scale requires serious infrastructure. Samsung SDS seems to be betting that it can be both the picks-and-shovels provider and a strategic partner in the ecosystem itself.

The stablecoin market across Asia has grown fast in recent years, with demand coming from both retail users and institutional players looking for dollar-denominated settlement options outside traditional banking rails. South Korea, with its large and active crypto trading population, is a natural market for that kind of infrastructure. Upbit is the dominant exchange in the country, so Dunamu's involvement gives any stablecoin product a ready distribution channel.

Unclear yet whether the Samsung SDS-Dunamu work will produce a standalone stablecoin product, a white-label infrastructure service for other financial institutions, or something else entirely. Lee's comments on the earnings call were directional, not a product announcement. The companies are still in the exploration phase, at least publicly.

What is probably not in doubt is that Samsung SDS wants to be the infrastructure layer – not just a passive investor – as South Korea's digital asset market matures. The 4% Dunamu stake, the tokenized securities work with Korea Securities Depository, the Samsung Wallet stablecoin integration, and now the direct Dunamu talks all point the same direction.

Samsung SDS's external cloud business revenue grew 75% in the second quarter.