{"id":15247,"date":"2021-12-16T21:02:49","date_gmt":"2021-12-16T20:02:49","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=15247"},"modified":"2021-12-16T21:02:58","modified_gmt":"2021-12-16T20:02:58","slug":"upbit-sister-firm-lambda256-raises-60m","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/upbit-sister-firm-lambda256-raises-60m\/","title":{"rendered":"Upbit sister firm Lambda256 raises $60M"},"content":{"rendered":"\n
Dunamu, the major operator of South Korean cryptocurrency exchange Upbit<\/a>, is making strides in blockchain development thanks to new funding for its blockchain branch Lambda256.<\/h5>\n\n\n\n
\"Upbit<\/figure>\n\n\n\n

Lambda256 raised 70 billion Korean won ($60 million) in a Series B financing, valuing the company at over $300 million, according to a Dec. 15 release. The company focuses on enterprise-grade chains for organizations, using its own Luniverse blockchain \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>protocol.<\/p>\n\n\n\n

Major venture capital firms and private investors participated in the investment round, including Hanhwa Systems, Yanolja, Daelim, DSC Investments, Shinhan Venture Capital, KB Investments, and SBI Investments<\/a>. Dunamu also took part in the round.<\/p>\n\n\n\n

Daelim and SBI Investments, for example, are Lambda256 clients or partners for a number of solutions, including a blockchain-based decentralized identity management system, Luniverse nonfungible tokens (NFT), and Luniverse's blockchain consortium chain.<\/p>\n\n\n\n

Lambda256 will use the new cash to grow its Blockchain-as-a-Service offerings. “With the money, we're well on our way to broadening talent pools and speeding up our blockchain roadmap into other global ecosystems,” said Lambda256 CEO Jay Jaehyun Park.<\/p>\n\n\n\n

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

Upbit NFT, the crypto exchange's NFT marketplace platform, launched in November 2021, used Lambda256's patented NFT <\/a>technology. Dunamu CEO Lee Sirg-oo reportedly declared worldwide development intentions earlier this week, alluding specifically to the company's joint NFT venture with South Korean entertainment company HYBE.<\/p>\n\n\n\n

In August 2021, Lambda256 also introduced VerifyVASP, a regulatory-compliant solution aimed at virtual asset service providers to assure data integrity in accordance with the Financial Action Task Force's “Travel Rule” anti-money laundering laws.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dunamu, the major operator of South Korean cryptocurrency exchange Upbit, is making strides in blockchain development thanks to new funding for its blockchain branch Lambda256. Lambda256 raised 70 billion Korean won ($60 million) in a Series B financing, valuing the company at over $300 million, according to a Dec. 15 release. The company focuses on […]<\/p>\n","protected":false},"author":13,"featured_media":15248,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[130,21],"tags":[5653,5707,6024],"class_list":["post-15247","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-news","tag-investment-2","tag-technology-2","tag-upbit-blockchain"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/12\/image-127.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/15247","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=15247"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/15247\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/15248"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=15247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=15247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=15247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}