{"id":381886,"date":"2021-12-16T16:31:03","date_gmt":"2021-12-16T13:31:03","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/upbit-crypto-exchanges-blockchain-sister-firm-raises-60m\/"},"modified":"2021-12-16T16:31:03","modified_gmt":"2021-12-16T13:31:03","slug":"upbit-crypto-exchanges-blockchain-sister-firm-raises-60m","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/upbit-crypto-exchanges-blockchain-sister-firm-raises-60m\/","title":{"rendered":"# Upbit crypto exchange’s blockchain sister firm raises $60M"},"content":{"rendered":"

“# Upbit crypto exchange’s blockchain sister firm raises $60M <\/strong>”
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Dunamu, the operator of major South Korean cryptocurrency exchange Upbit, is progressing with blockchain development as its blockchain arm Lambda256 secured new funding.<\/p>\n

According to a Dec. 15 announcement, Lambda256 raised<\/a> 70 billion Korean won ($60 million) in a Series<\/a> B round, valuing the company at over $300 million. The firm is focused on enterprise-grade chains for businesses, building on its own blockchain protocol called Luniverse.<\/p>\n

The funding round included major venture capital firms and individual investors like tech giant Hanhwa Systems, travel<\/a> tech startup Yanolja, bikes manufacturer Daelim, DSC Investments, Shinhan Venture Capital, KB Investments and SBI Investments. Dunamu participated in the round as well.<\/p>\n

Some of the new investors, such as Daelim and SBI Investments, are clients or partners of Lambda256 for a number of solutions including a blockchain-based decentralized identity management system, Luniverse nonfungible tokens (NFT) and Luniverse\u2019s blockchain consortium chain.<\/p>\n

The new funding will help Lambda256 further expand its Blockchain-as-a-Service products. \u201cWith the funding, we\u2019re on a clear path to diversifying talent pools and accelerating our blockchain roadmap into various global ecosystems,\u201d Lambda256 CEO Jay Jaehyun Park said.<\/p>\n

Lambda256 is a sister firm of Upbit,\u00a0one of the largest crypto exchanges in South Korea, with a total daily trading volume<\/a> of $4 billion, according to CoinGecko.<\/p>\n

Related:\u00a0Korea’s FSC confirms that NFTs will not be regulated<\/em><\/strong><\/p>\n

Lambda256 implemented its proprietary NFT technology<\/a> for Upbit NFT, the crypto exchange\u2019s NFT marketplace platform launched<\/a> in November 2021. Earlier this week, Dunamu CEO Lee Sirg-oo reportedly announced<\/a> global expansion ambitions, particularly referring to its joint NFT venture with South Korean entertainment company HYBE.<\/p>\n

In August 2021, Lambda256 aso launched<\/a> VerifyVASP, a regulatory compliant solution targeting virtual asset service providers to ensure data integrity in compliance with the \u201cTravel Rule,\u201d Anti-Money Laundering regulations by Financial Action Task Force.<\/p>\n