Samsung SDS CEO Lee Jun-hee said the IT arm is discussing stablecoin infrastructure and AI payment models with Dunamu, operator of crypto exchange Upbit. Cloud revenue jumped 75% in Q2.
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Samsung SDS, the IT services arm of Samsung Group, is discussing stablecoin infrastructure and AI-based payment models with Dunamu, the operator of South Korean crypto exchange Upbit, CEO Lee Jun-hee said on the company's second-quarter earnings call Thursday.
"We have already secured differentiated business capabilities in digital asset infrastructure through the Korea Securities Depository's tokenized securities platform project and through end-to-end validation of the full stablecoin process from issuance to settlement," Lee said. He expects the relationship with Dunamu to help Samsung SDS expand in the digital asset infrastructure market.
The talks come days after Samsung Electronics announced plans to add stablecoin support to its Samsung Wallet. In May 2026, Samsung Securities, Samsung SDS and Samsung Card agreed to buy a combined 4% stake in Dunamu, deepening ties between Samsung affiliates and South Korea's digital asset sector.
Lee described the Dunamu investment as strategic rather than financial, and said both companies plan to refine potential business models for digital financial infrastructure. "By combining Samsung SDS's IT services, cloud, and security capabilities with Dunamu's blockchain expertise, we aim to lead this market," the Q2 transcript said.
Samsung SDS did not immediately respond to a request for comment. Dunamu declined to comment.
The digital asset initiative overlaps with Samsung SDS's broader expansion in AI and cloud services. Q2 revenue rose 5.9% year on year to 3.72 trillion Korean won ($2.6 billion), according to the earnings presentation. Cloud revenue was up 17% from a year earlier; external cloud business revenue jumped 75%, driven by demand for Samsung's cloud platform and GPU-as-a-service offerings.
Samsung SDS also outlined plans to expand its AI infrastructure from 110 megawatts today to 230 MW by 2029 and beyond 800 MW by 2031.
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