PANews reported on July 1 that according to KBS, South Korean crypto exchange Upbit has reached a cooperation with local search engine giant Naver to jointly develop a stablecoin payment system based on the Korean won. Upbit's operator Dunamu will cooperate with Naver's payment platform Npay on the project. A Dunamu spokesperson said that the project is expected to be led by Npay, with Dunamu playing a supporting role. The two companies intend to formally finalize the specific details and scope of the cooperation after the regulatory framework is formed.