Dunamu, the operator of main South Korean cryptocurrency alternate Upbit, is progressing with blockchain growth as its blockchain arm Lambda256 secured new funding.
In accordance with a Dec. 15 announcement, Lambda256 raised 70 billion Korean received ($60 million) in a Collection B spherical, valuing the corporate at over $300 million. The agency is concentrated on enterprise-grade chains for companies, constructing by itself blockchain protocol known as Luniverse.
The funding spherical included main enterprise capital corporations and particular person traders like tech large Hanhwa Techniques, journey tech startup Yanolja, bikes producer Daelim, DSC Investments, Shinhan Enterprise Capital, KB Investments and SBI Investments. Dunamu participated within the spherical as nicely.
Among the new traders, reminiscent of Daelim and SBI Investments, are purchasers or companions of Lambda256 for quite a lot of options together with a blockchain-based decentralized id administration system, Luniverse nonfungible tokens (NFT) and Luniverse’s blockchain consortium chain.
The brand new funding will assist Lambda256 additional develop its Blockchain-as-a-Service merchandise. “With the funding, we’re on a transparent path to diversifying expertise swimming pools and accelerating our blockchain roadmap into numerous world ecosystems,” Lambda256 CEO Jay Jaehyun Park mentioned.
Lambda256 is a sister agency of Upbit, one of many largest crypto exchanges in South Korea, with a complete day by day buying and selling quantity of $4 billion, in keeping with CoinGecko.
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Lambda256 carried out its proprietary NFT know-how for Upbit NFT, the crypto alternate’s NFT market platform launched in November 2021. Earlier this week, Dunamu CEO Lee Sirg-oo reportedly introduced world growth ambitions, significantly referring to its joint NFT enterprise with South Korean leisure firm HYBE.
In August 2021, Lambda256 aso launched VerifyVASP, a regulatory compliant answer concentrating on digital asset service suppliers to make sure knowledge integrity in compliance with the “Journey Rule,” Anti-Cash Laundering rules by Monetary Motion Job Drive.
