Dunamu, the operator of South Korea’s largest cryptocurrency exchange Upbit, has signed a memorandum of understanding with Kazakhstan’s Alatau City Administration and Alatau City Bank to develop digital financial infrastructure. The agreement covers real-world asset tokenization, security token offerings, stablecoins and digital payment solutions. Dunamu will provide technical expertise, while the administration will coordinate regulatory and institutional cooperation. Alatau City Bank is targeting up to $60 million in tokenization pilots for real estate and logistics projects, with launches targeted before the end of 2026 through Kazakhstan Stock Exchange infrastructure. The bank has already integrated Binance Pay across more than 5,000 point-of-sale terminals. The cooperation forms part of the wider Alatau City megaproject, which has an estimated total investment target of $6 billion and partnerships with Halyk Bank, Solana and Binance. Kazakh President Kassym-Jomart Tokayev’s official state visit to South Korea provided the diplomatic backdrop for the agreement.