Upbit cryptocurrency exchange’s blockchain sister company raises $60 million

Dunamu, the operator of South Korea’s major cryptocurrency exchange Upbit, is advancing blockchain development as its blockchain unit Lambda256 has received new funding.

According to the announcement on December 15, Lambda256 Upregulate In the B round of financing, 70 billion won (60 million U.S. dollars) was obtained, and the company was valued at more than 300 million U.S. dollars. The company focuses on enterprise-level enterprise chains, based on its own blockchain protocol called Luniverse.

This round of financing includes large venture capital firms and individual investors such as technology giant Hanwha Systems, travel technology startup Yanolja, bicycle manufacturer Daelim, DSC Investments, Shinhan Venture Capital, KB Investments, and SBI Investments. Dunamu also participated in this round.

Some new investors, such as Daelim and SBI Investments, are customers or partners of Lambda256 and have provided many solutions, including a blockchain-based decentralized identity management system, Luniverse non-fungible tokens (NFT) and Luniverse’s area Block chain consortium chain.

The new funding will help Lambda256 to further expand its blockchain as a service product. Lambda256 CEO Jay Jaehyun Park said: “With this funding, we have embarked on a clear path to diversify our talent pool and accelerate our blockchain map into various global ecosystems.”

Lambda256 is a sister company of Upbit, One of the largest cryptocurrency exchanges In Korea, the total daily transaction volume volume According to CoinGecko, it is $4 billion.

related: South Korea’s FSC confirms that NFT will not be regulated

Lambda256 implemented its proprietary NFT technology for Upbit NFT, the NFT market platform of the cryptocurrency exchange roll out November 2021. According to reports, earlier this week, Dunamu CEO Lee Sirg-oo Announce The ambition of global expansion, especially referring to its joint venture NFT with South Korean entertainment company HYBE.

August 2021, Lambda256 aso roll out VerifyVASP, a compliance solution for virtual asset service providers to ensure data integrity in compliance with “travel rules”, Anti-money laundering regulations Through the Financial Action Task Force.