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Korean crypto alternate Upbit’s guardian firm Lambda256 raises $60M in Sequence B » CryptoNinjas

Written by James Smith

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

This spherical was backed by main Korean enterprise capitals and buyers, together with Dunamu, Hanhwa Techniques, Chong Kun Dang, Yanolja, Daelim, VTI Companions, DSC Investments, Shinhan Enterprise Capital, KB Investments, and SBI Investments.

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

New buyers Daelim, Shinhan Enterprise 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.

Based in Might 2018 as a blockchain analysis and growth unit of Upbit operator Dunamu, Lambda256 gives an enterprise-grade blockchain constructed for companies throughout completely different industries. Just lately, the corporate carried out its proprietary NFT know-how for Upbit NFT – aimed toward offering an energy-efficient, greener various to NFTs, to creators with sustainability top-of-mind.

In August 2021, the corporate additionally launched VerifyVASP, a regulatory resolution designed to make sure knowledge integrity by way of full-scale compliance for VASPs and their prospects. Since its integration, Luniverse has grow to be 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) mission, 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 Community, a metaverse platform.

“Blockchain’s efficacy in serving to corporations construct belief and transparency with prospects throughout ecosystems is now a foregone conclusion. The newest spherical of investments is a testomony to the highly effective know-how we’ve constructed. With the funding, we’re on a transparent path to diversifying expertise swimming pools and accelerating our blockchain roadmap into numerous international ecosystems.”
– Jay Jaehyun Park, CEO of Lambda256

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James Smith

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