Korea’s Largest Cryptocurrency Exchange Operator to Invest $92.5 Mln in Blockchain Tech
Dunamu, the operator of South Korea’s largest cryptocurrency exchange Upbit is pushing for leadership in Korea’s cryptocurrency and blockchain tech ecosystem.
The exchange operator backed by local mobile messaging giant Kakao, announced Monday that it plans to invest 100 billion won ($92.5 million) toward blockchain technologies over the next three years, according to local news media Korea Herald.
Dunamu said it would invest in blockchain tech startups and firms pursuing areas that can be integrated with blockchain, including data analytics and management, artificial intelligence and financial technology via mergers and acquisitions as well as equity investment.
“There is high interest in cryptocurrencies and blockchain in Korea. And now is a pivotal opportunity for Korea to become the global mecca of blockchain-based technologies,” Dunamu CEO Song Chi-hyung said in a statement. “Through this investment, we hope to become a foothold for youths who are interested in blockchain technologies to establish and run their own startups.”
Dunamu has since been invoved in blockchain developmentalready. In partnership with blockchain startup Kakao ventures, Dunamu aims to establish itself in the gaming industry with blockchain.
Kokoa is building technologies in the form of “Blockchain as a Service,” or solutions that allow client firms to adopt blockchain systems into their products. The startup is preparing to launch Korea’s first mobile game built on the Ethereum blockchain by the first half of this year.
Dunamu announced last week that it had completed the development of Korea’s first cryptocurrency index, the Upbit Crypto Index, with plans to debut it next month.
Upbit is currently the largest cryptocurrency exchange in South Korea by trade volume. Under Kakao, the exchange operator is working to establish itself in the blockhain tech ecosystem.
Fuente: bitzamp
Foto: bitzamp
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