Upbit’s blockchain unit raises $60 million

Lambda256, the blockchain unit of Upbit operator Dunamu, a South Korean fintech company, attracted $60 million in a Series B financing round. According to the press release.

Participants in the round were: Dunamu, Hanwha Systems, Chong Kun Dang, Yanolja, Daelim, VTI Partners, DSC Investments, Shinhan Venture Capital, KB Investments, and SBI Investments.

The funds raised will be used to expand the business in the “blockchain-as-a-service” sector, where the company counts more than 3,300 corporate clients.

Founded in 2018, Lambda256 offers for deploying networks its own blockchain Luniverse. The firm has also developed the VerifyVASP digital-identity solution for providers of virtual-asset services [2 — border] and a system for issuing and managing NFTs.

Lambda256’s technology is used, among other things, by the Gluwa project to launch a stablecoin pegged to the Indonesian rupiah, created by Dunamu’s Stockplus Unlisted stock-trading platform and the metaverse platform Division Network.

As reported in the media, Dunamu exceeded $10 billion after an investment round of $85 million.

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