Upbit Operator Dunamu Invested $46 Million in Blockchain Startups in Previous Yr


South Korean fintech company Dunamu, operator of cryptocurrency trade Upbit, says it invested 55 billion gained ($46 million) in 26 blockchain startups more than the past yr.

The company stated Wednesday that the investments have been produced predominantly by using its subsidiary Dunamu & Partners, which was introduced in March 2018. At the time of the start, the company declared a a few-yr program to make investments 100 billion gained ($84 million) in the blockchain field.

The investments have been into companies that are focused on creating main blockchain remedies, as very well as these similar to fintech and games, Dunamu stated, which also operates the Kakao Stock buying and selling app.

Portfolio companies now include stablecoin-based mostly payments network Terra, fintech startup Rainist and gaming computer software company Dalcom Delicate, in accordance to the announcement. Peer-to-peer lending system Truthful Fund, on the net vacation agency Tide Sq. and blockchain-based mostly expense system Finhaven have also seen investments from Dunamu.

Ryan Lee, CEO of Dunamu and Partners, indicated that the company will proceed to make investments in blockchain and fintech startups this yr, regardless of their dimension, phase and region.

“Our objective is to add to the nutritious progress of the blockchain ecosystem by actively investing in startups with world course technological know-how and providers with possible for genuine-everyday living implementation,” said Lee.

In individual, the company will concentrate on companies that will help generate mainstream adoption of blockchain-based mostly providers and cellular fintech providers, as very well as these centered about particular person written content creators, in accordance to the announcement.

In fact, earlier this yr, Dunamu backed a $3 million seed spherical for blockchain startup Band Protocol, which incentivizes reputable written content producers with token rewards and staking.

The company included Wednesday that it also partnered with games developer Neptune in April 2018 to set up a 100 billion gained ($84 million) fund to make investments in blockchain-based mostly gaming companies.

South Korean gained impression by using Shutterstock 

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