Upbit Exchange Operator puts $ 46 million in Blockchain in first year of investment

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The parent company of the South Korean cryptocurrency exchange Upbit has invested nearly $ 50 million in blockchain startups since March 2018, the English-language Korean business news article reported by The Investor on May 15.

Dunamu, which established a dedicated investment subsidiary, Dunamu & Partners at the same time last year, has given 26 companies cash in total.

In total – according to plans announced earlier – the company wants to invest 100 billion won ($ 84 million) in the sector.

"Our goal is to contribute to the healthy growth of the blockchain ecosystem by actively investing in start-ups with world-class technology and services with potential for real-time implementation," said The Investor, Ryan Lee, CEO of Dunamu & Partners. He continues:

"The strategy of Dunamu and Dunamu & Partners for identifying and investing in innovative technology and finance startups, regardless of size, phase and region, will be continued in 2019."

As Cointelegraph reported, South Korea has recently seen a number of major blockchain and crypto-related investments. Last month, a Japanese fund channeled $ 200 million to the fellow exchange operator Bithumb.

Meanwhile, another platform, Korbit, could eventually come under the control of Disney Corp. if a related deal of $ 13.2 billion shares goes through.

Kakao Corp., the South Korean internet giant already active in the crypto arena, confirmed that it was planning to release its own blockchain platform in June.

For Dinamu, the investments will mainly go to entities involved in the regular acceptance of blockchain services, regulatory fintech and content creation, The Investor notes.

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Don Bradman

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