Samsung SDS, the IT services arm of Samsung Group, says it is exploring cooperation with Dunamu—operator of South Korea’s Upbit exchange—across stablecoin infrastructure, digital asset systems and AI-enabled payment models. The discussions were outlined during Samsung SDS’ second-quarter earnings call on Thursday, according to remarks from CEO Lee Jun-hee.

The effort also arrives as Samsung Electronics continues to expand its digital asset footprint, including recent plans to add stablecoin support to Samsung Wallet. Together, the moves point to a broader push by Samsung-related entities toward regulated digital finance rails rather than purely retail-facing crypto features.

Key takeaways

• Samsung SDS is in talks with Dunamu on stablecoin infrastructure and broader digital asset system development.
• CEO Lee Jun-hee framed the Dunamu relationship as expansion in infrastructure capabilities, not a standalone financial investment.
• Samsung affiliates already have ties to Dunamu: Samsung Securities, Samsung SDS and Samsung Card agreed to buy a combined 4% stake in May 2026.
• Samsung SDS’ Q2 results show growth across cloud and AI-related services, providing business momentum for its digital finance ambitions.
• South Korea’s regulatory direction for stablecoins remains a key variable for how such infrastructure partnerships develop.

Samsung SDS and Dunamu explore stablecoin and digital finance infrastructure

During its Q2 earnings call, Samsung SDS CEO Lee Jun-hee said the company is discussing potential cooperation with Dunamu on stablecoin infrastructure, digital asset systems, and AI-based payment business models. Lee also referenced Samsung SDS’ own work in tokenized securities and stablecoin workflow validation as proof points for why it expects the partnership to strengthen its position in digital asset infrastructure.

Lee noted that Samsung SDS has already secured “differentiated business capabilities” through the Korea Securities Depository’s tokenized securities platform project and through end-to-end validation of a full stablecoin process—from issuance through settlement. The company’s stated aim is to combine its IT services, cloud and security capabilities with Dunamu’s blockchain expertise.

In the Q2 transcript, Samsung SDS said the partnership goal is to “lead this market” by pairing the two firms’ respective strengths. However, Samsung SDS did not provide additional detail on timelines, specific technical approaches, or the scope of any prospective commercial offering.

Cointelegraph previously reported Samsung Electronics’ plan to add stablecoin support to Samsung Wallet, and this new development suggests the Samsung ecosystem is aligning infrastructure capability with consumer-facing wallets. While Samsung Wallet would be a distribution layer, stablecoin infrastructure and enterprise digital asset systems typically sit behind the scenes—supporting issuance, settlement, custody integrations, and compliance-oriented workflows.

Earlier stake tie deepens: strategic rather than financial intent

The talks with Dunamu follow a prior move that increased Samsung affiliates’ exposure to South Korea’s digital asset sector. In May 2026, Samsung Securities, Samsung SDS and Samsung Card agreed to buy a combined 4% stake in Dunamu. That transaction strengthened existing commercial ties and underscored that Samsung-related companies are looking beyond pilots.

In the latest Q2 call, Lee reportedly characterized Samsung SDS’ investment in Dunamu as strategic rather than purely financial. He said both companies plan to refine potential business models for digital financial infrastructure, suggesting that any future cooperation could extend beyond infrastructure experiments into more defined productization.

Samsung SDS did not immediately respond to Cointelegraph’s request for comment, and Dunamu declined to comment. That limits what can be said publicly about how negotiations are progressing or whether agreements are already in place for specific use cases.

How Samsung SDS’ cloud and AI expansion could reinforce digital finance plans

Samsung SDS’ stablecoin and digital asset ambitions are being presented alongside broader growth in cloud and AI services. In its Q2 earnings presentation and related figures, Samsung SDS reported Q2 revenue of 3.72 trillion Korean won (about $2.6 billion), up 5.9% year on year. The company cited cloud momentum as a major contributor, including a 17% increase in cloud revenue from the prior year and a jump in external cloud business revenue of 75%.

Samsung SDS attributed part of the external cloud growth to demand for its cloud platform and graphics processing unit-as-a-service offerings. That emphasis matters because stablecoin infrastructure and tokenized financial systems often depend on the same enterprise capabilities—secure hosting, scalable compute, identity and access controls, and reliability under transaction load.

The company also reportedly outlined plans to expand its AI infrastructure capacity—from about 110 megawatts today to 230 MW by 2029, and more than 800 MW by 2031. If executed, such expansion would further position Samsung SDS to deliver data-intensive services for AI-driven finance workflows, including risk analytics, fraud detection, and automated settlement-related monitoring.

Still, investors and builders should distinguish between infrastructure readiness and regulatory authorization. Stablecoin use in retail payments, treasury operations, or tokenized assets typically depends on compliance frameworks and the specific licensing/oversight model in the relevant jurisdiction.

What this means for South Korea’s digital finance ecosystem

South Korea has been moving toward clearer stablecoin and crypto regulation, and industry participants are watching how the rules will translate into real, compliant payment and settlement deployments. Earlier coverage from Cointelegraph noted that a South Korea report proposed stablecoin rules ahead of a broader crypto law framework.

Against that backdrop, Samsung SDS’ focus on end-to-end stablecoin process validation—from issuance to settlement—reads like an attempt to be ready for both technical and compliance requirements. Rather than targeting speculative applications, the company appears to be building capabilities that can support regulated flows once the legal environment permits or clarifies specific models.

At the same time, the partnership’s practical impact will hinge on what “AI-based payment business models” ultimately involve. AI can be used in customer authentication, compliance monitoring, market surveillance, and payment risk assessment, but the boundaries of acceptable use will depend on data policies and the final regulatory approach.

For traders and users, these initiatives may not immediately change day-to-day trading volumes or retail access. For developers and institutional stakeholders, however, infrastructure partnerships can matter because they affect integration timelines, operational reliability, and the availability of custody/settlement tooling that exchanges and financial platforms can adopt.

Next, the key question is whether Samsung SDS and Dunamu will move from exploratory cooperation into concrete deployments—particularly in stablecoin issuance/settlement workflows and any wallet or payment integrations tied to Samsung’s consumer products. Observers should also watch for updates as South Korea’s stablecoin regulatory trajectory progresses, since the permitted use cases will likely determine what infrastructure work can scale commercially.

That concentration could make future altcoin rallies more selective.

“The result is a market where the flow that increasingly sets direction is concentrated in fewer names, traded more selectively,” the report said. It added that broad-based rallies, where most alternative cryptocurrencies rise together, are becoming less likely as institutional capital focuses on a handful of assets.

Derivatives and tokenization gain traction

The report also points to growing use of derivatives as another defining trend. Wintermute said notional trading volume in altcoin options on its OTC desk increased about 3.4 times from the second half of 2025 to the first half of 2026, driven largely by investors seeking yield rather than outright price exposure. At the same time, contracts for difference, or CFDs, are being used across a wider range of cryptocurrencies for directional trading, hedging and basket strategies.

Beyond trading, tokenized real-world assets continued to gain momentum, with the value of tokenized assets climbing nearly 50% to $31 billion during the first six months of the year, while average monthly transfer volume more than doubled to $9 billion. The firm said institutions are primarily adopting tokenized Treasuries, money market funds and private credit, while retail investors remain more active in tokenized equities.

While Wintermute expects retail participation to return during the next crypto bull market, it argues institutional influence is unlikely to fade. Instead, it said the market is increasingly taking on the characteristics of its largest participants, with professional investors shaping liquidity, pricing and the types of assets that attract capital.

[Update 08:55 UTC, July 30: Updates with additional reporting and context.]

Online brokerage Robinhood posted record second-quarter revenue and earnings, though cryptocurrency transaction revenue fell 38% from a year earlier.

The company said Wednesday in its earnings report that crypto transaction revenue fell to $100 million from about $160 million a year earlier. Overall revenue rose 32% year-over-year to $1.31 billion, while net income increased 48% to $573 million. Transaction-based revenue climbed 44% to $776 million.

Robinhood reported $40 billion in crypto notional trading volume during the quarter. Of that total, $18 billion came from the Robinhood app, down 35% from a year earlier, while $22 billion came from Bitstamp, the crypto exchange it acquired in June 2025.

The price of Robinhood shares was down 3.15% on Wednesday ahead of the company’s earnings release, according to Yahoo Finance data.

Robinhood expands crypto ecosystem

Despite the decline in crypto trading revenue, Robinhood continued expanding its digital asset business during the quarter, completing its acquisition of Canadian crypto platform WonderFi as it broadened its crypto offerings beyond trading.

After the quarter ended, the company unveiled the public mainnet of Robinhood Chain, introduced tokenized US stocks to eligible users in more than 120 countries and debuted its first decentralized lending product, Robinhood Earn.

Related: Bernstein raises Robinhood price target, cites tokenization and prediction markets

Data from DefiLlama shows Robinhood’s new Ethereum layer-2 network had $348 million in total value locked on Thursday, more than $500 million in stablecoins and over $1 billion in bridged assets.

Platform growth offsets crypto slowdown

Cryptocurrency was the only major transaction category to decline during the quarter. 

Robinhood said growth in event contracts, options and equities more than offset the weakness, with event contract revenue surging more than tenfold to $156 million, options revenue rising 29% to $342 million and equities revenue jumping 95% to $129 million.

The company also reported record net deposits of $21.7 billion during the quarter, while total platform assets increased 32% year over year to $369 billion and funded customers grew 7% to 28.4 million.

Robinhood lowered and narrowed its 2026 outlook for adjusted operating expenses and share-based compensation to between $2.675 billion and $2.775 billion, from $2.7 billion to $2.825 billion previously. Adjusted EBITDA rose 35% to $741 million, while total operating expenses increased 33% to $734 million.

Magazine: Bitcoin price wedged into ‘most divided’ FOMC as Iran war spikes oil prices 8%

Malaysian police have dismantled an illegal Bitcoin mining operation and arrested two men after seizing 73 mining machines that investigators say were powered through stolen electricity.

According to a statement from Batu Gajah district police chief Assistant Commissioner Md Noor Aehawan Mohammad, officers carried out coordinated raids at three properties in Tronoh on Tuesday night under Op Elektrik, uncovering what investigators described as illegal Bitcoin mining activities supported by unauthorized electricity connections.

The operation began at about 9:02 p.m. and involved personnel from the district Criminal Investigation Department together with the Technical Unit of Malaysia’s national electricity provider, Tenaga Nasional Berhad (TNB), also known as the SEAL Team.

Police detained two local men, aged 40 and 52, to assist with the investigation. Alongside the arrests, officers confiscated 73 Bitcoin mining machines and additional equipment believed to have been used to operate the mining network.

Bitcoin mining operation used illegal power connections

Police said inspections carried out during the operation found that each of the three premises had been used for Bitcoin mining. Technical examinations conducted by TNB later confirmed electricity theft at two abandoned houses, while the third property involved in the case was an unoccupied house.

Md Noor Aehawan said investigators found evidence that the mining equipment had been connected through illegal electricity supply lines rather than legitimate metered connections.

Both suspects have been remanded for three days, beginning Wednesday and ending Friday, to facilitate further investigations.

Authorities are investigating the case under Section 427 of Malaysia’s Penal Code for committing mischief, including electricity theft, as well as Section 37(1) of the Electricity Supply Act 1990, which covers interference with electrical installations.

Police also urged residents to report suspicious activities linked to electricity theft or unauthorized cryptocurrency mining. Members of the public with relevant information have been asked to contact the Batu Gajah district police operations room or the nearest police station.

Malaysia has continued targeting illegal Bitcoin mining

The latest enforcement action follows several similar crackdowns carried out across Malaysia over the past year as authorities continue to target cryptocurrency mining operations that bypass electricity meters.

In May, Terengganu police dismantled another suspected Bitcoin mining syndicate during Op Letrik after raiding properties in the Hulu Terengganu and Marang districts. Working alongside TNB’s SEAL unit, officers seized 45 illegal Bitcoin mining machines from two premises, including a residential property in Bukit Perpat and a commercial building in Wakaf Tapai.

At the time, Terengganu police chief Datuk Mohd Khairi Khairuddin said investigators believed the premises had been modified to bypass electricity meters, causing estimated monthly losses of about RM36,000 for TNB. Authorities also seized mining-related equipment valued at approximately RM225,000, although no arrests were announced in that operation.

The Terengganu investigation proceeded under Sections 379 and 427 of the Penal Code together with Section 37 of the Electricity Supply Act 1990.

Earlier cases have exposed electricity theft

Another illegal mining operation came to light in February after firefighters responded to reports of an explosion and smoke at a house in Kuala Lumpur.

Authorities later discovered modified electrical wiring that had caused a fire before uncovering several Bitcoin mining rigs inside the property. Investigators also confirmed that the operation had been drawing electricity through unauthorized connections, prompting a separate investigation.

Malaysia’s national electricity provider has repeatedly warned about the financial impact of electricity theft linked to cryptocurrency mining. TNB reported in 2024 that illegal Bitcoin mining had caused losses of more than 440 million Malaysian ringgit, or roughly $101 million, due to stolen electricity.

The utility also estimated that electricity theft associated with illegal cryptocurrency mining resulted in losses of about $755 million between 2018 and 2023, highlighting the continued challenge posed by unauthorized mining operations across the country.

Outside Malaysia, governments have taken similar action against illicit cryptocurrency mining where unauthorized electricity use has strained national power systems. Iran has conducted repeated crackdowns on illegal mining operations, while Venezuela introduced a ban on crypto mining to protect its electricity grid from excessive energy demand.