Bitcoin exchange Gopax raises $23.7 million in round with DCG participation

Streamy, the operator of the South Korean cryptocurrency exchange Gopax, announced the close of a Series B financing round worth 30 billion won (about $23.7 million), according to Digital Today.

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The funding came from existing investors Digital Currency Group (DCG) and Strong Ventures, as well as new ones. Among the latter are Z Venture Capital, a SoftBank- and Line-backed venture firm, and KB Investment.

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At the close of the round, the company was valued at 350 billion won (about $276 million).

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Streamy plans to use the proceeds to strengthen the exchange’s team and expand its client base — \”through aggressive marketing\”.

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\”We will do everything possible to modernise the system and strengthen investment stability by recruiting talented professionals with strong competencies to the virtual assets platform team,\” said Streamy CEO Lee Jun-han.

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The exchange has signed a deal with Jeonbuk Bank enabling customers to hold real-name bank accounts, in line with regulatory requirements. On 28 April the platform resumed operations after a pause in September 2021.

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According to the exchange’s site, accounts of foreign users have been closed since then.

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Earlier in March the platform announced the blocking of accounts belonging to residents of the Russian Federation in response to sanctions by the U.S. Treasury’s Office of Foreign Assets Control and the EU.