Crypto News

Korean crypto exchange Upbit’s parent company Lambda256 raises $60M in Series B » CryptoNinjas

Lambda256, the blockchain arm of Korean fintech agency Dunamu, introduced immediately it has secured $60 million (70 billion KRW) in a Series B funding spherical that values the company at over $300 million.

This spherical was backed by main Korean enterprise capitals and traders, together with Dunamu, Hanhwa Systems, Chong Kun Dang, Yanolja, Daelim, VTI Partners, DSC Investments, Shinhan Venture Capital, KB Investments, and SBI Investments.

The company will use the most recent spherical of funding to amplify its efforts to additional its enlargement in the Blockchain-as-a-Service (BaaS) area, the place it has helped over 3,300 company shoppers in constructing, deploying, and managing blockchain networks at scale with its blockchain, Luniverse.

New traders Daelim, Shinhan Venture Capital, KB Investments, and SBI Investments are shoppers and companions for a key set of options: DID, a blockchain-based digital identification administration system, Luniverse NFTs, a system for managing and minting NFTs, and Luniverse’s blockchain consortium chain.

Founded in May 2018 as a blockchain analysis and improvement unit of Upbit operator Dunamu, Lambda256 presents an enterprise-grade blockchain constructed for companies throughout completely different industries. Recently, the company carried out its proprietary NFT know-how for Upbit NFT – geared toward offering an energy-efficient, greener various to NFTs, to creators with sustainability top-of-mind.

In August 2021, the company additionally launched VerifyVASP, a regulatory resolution designed to make sure information integrity by full-scale compliance for VASPs and their prospects. Since its integration, Luniverse has turn into a trusted, regulated platform for over 3,300 establishments.

Luniverse helps a various portfolio of options for enterprises throughout disciplines, together with the Indonesian Rupiah-based stablecoin (IDRT) undertaking, Gluwa, a borderless monetary platform, Milk, a blockchain-based loyalty rewards program, Stockplus Unlisted, Dunamu’s platform for buying and selling non-public shares, and Division Network, a metaverse platform.

“Blockchain’s efficacy in helping companies build trust and transparency with customers across ecosystems is now a foregone conclusion. The latest round of investments is a testament to the powerful technology we’ve built. With the funding, we’re on a clear path to diversifying talent pools and accelerating our blockchain roadmap into various global ecosystems.”
– Jay Jaehyun Park, CEO of Lambda256

Related posts

Shiba Inu Project Reveals ‘Doggy DAO,’ Devs Say Phase 1 to Provide ‘Immediate Power to the SHIB Army’ – Altcoins Bitcoin News

Crypto Advisor

Video Game Retail Giant Gamestop Reveals More Clues About Upcoming NFT Marketplace – Bitcoin News

Crypto Advisor

Makersplace Plans to Drop World’s First 2pac NFT Collection Authorized by the Shakur Estate – Bitcoin News

Crypto Advisor

Leave a Comment