Oh Kyung-seok, Dunamu CEO "Stablecoin Emerges as a Core Pillar of Financial Infrastructure"

Oh Kyung-seok, CEO of Dunamu, the operator of domestic virtual asset exchange Upbit, said on the 29th, "(Stablecoin) has emerged as a core pillar reshaping the entire financial infrastructure."

Oh, as the keynote speaker at the 'Asia-Pacific Economic Cooperation (APEC) leaders' meeting CEO Summit,' said, "Stablecoin is a bridge connecting traditional finance and blockchain."

The APEC CEO Summit is a major side event of the APEC leaders' meeting held in Gyeongju from the 28th to the 31st of this month. Jensen Huang, CEO of NVIDIA; Matt Garman, CEO of Amazon Web Services (AWS); Simon Khan, Google Vice President for Asia Pacific; Simon Milner, Vice President of Meta; and Anthony Cook, Vice President of Microsoft attended as key speakers.

In his keynote, Oh emphasized the place of digital assets in the history of money. Oh said, "The history of money is the history of changes in the guarantor of value," and "if fiat currency was based on trust in state institutions, digital assets replace that role with algorithms and network consensus." He added, "Fiat currency and digital assets have entered an era of coexistence, complementing each other's strengths."

He also presented the future of blockchain and stablecoins. Oh said, "The adoption of blockchain and stablecoins is still in its early stages and their growth potential is truly enormous," and stated, "In the blockchain revolution, Korea and Dunamu are facing an opportunity to build a new financial order together with global partners."

He also unveiled Dunamu's global strategy. He said, "Dunamu is evolving into a blockchain-based financial infrastructure company." Oh cited four core services of Dunamu: 'GIWA Chain', which supports the issuance and distribution of stablecoins; 'GIWA Wallet', which connects Web2 and Web3; 'VerifyVASP', a global travel rule solution; and 'Upbit Custody', an institutional custody service.

Oh said, "It is now an era of designing trust rather than money," and stated, "Dunamu will start in Korea, expand to Asia and then the world, and together create 'the future of currency and the global financial market.'"