Blockchain News

Upbit/Dunamu’s Blockchain Firm Lambda256 Raises $60 Million in Series B Funding

Upbit/Dunamu Blockchain Affiliate Lambda256 launches a blockchain consortium mainnet

Lambda256 is a blockchain unit of Dunamu, the operator of Upbit – one of the world’s largest cryptocurrency exchanges by volume

Lambda256, the blockchain arm of Korea’s leading fintech firm Dunamu, announced it has secured $60 million (70 billion KRW) in a Series B round that values the company at over $300 million. The round was backed by major Korean venture capitals and investors, including Dunamu, Hanhwa Systems, Chong Kun Dang, Yanolja, Daelim, VTI Partners, DSC Investments, Shinhan Venture Capital, KB Investments and SBI Investments.

PREDICTIONS SERIES BANNER

The company will use the latest round of funding to amplify its efforts to further its expansion in the Blockchain-as-a-Service (BaaS) arena, where it has helped over 3,300 corporate clients in building, deploying and managing blockchain networks at scale with its blockchain, Luniverse. New investors Daelim, Shinhan Venture Capital, KB Investments and SBI Investments are clients and partners for a key set of solutions: DID, a blockchain-based digital identity management system, Luniverse NFTs, a system for managing and minting NFTs, and Luniverse’s blockchain consortium chain.

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Founded in May 2018 as a blockchain research and development unit of Upbit operator Dunamu, the company offers enterprise-grade chain built for businesses, helping innovators across industries navigate the next wave of technology with blockchain. It has most recently implemented its proprietary NFT technology for Upbit NFT – aimed at providing an energy-efficient, greener alternative to NFTs, to creators with sustainability top-of-mind. In August 2021, the company has also launched VerifyVASP, a regulatory compliant solution designed to ensure data integrity through full-scale compliance for VASPs and their customers.

Since its integration, Luniverse has cemented its position as a standout leader in blockchain, becoming a trusted, regulated platform for over 3,300 institutions. Luniverse supports a diverse portfolio of solutions for enterprises across disciplines, including Indonesian Rupiah-based stablecoin (IDRT) project, Gluwa, a borderless financial platform, Milk, a blockchain-based loyalty rewards program, Stockplus Unlisted, Dunamu’s platform for trading private shares, and Division Network, a metaverse platform.

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“Blockchain’s efficacy in helping companies build trust and transparency with customers across ecosystems is now a foregone conclusion,” said Jay Jaehyun Park, CEO of Lambda 256. “The latest round of investments is a testament to the powerful technology we’ve built. With the funding, we’re on a clear path to diversifying talent pools and accelerating our blockchain roadmap into various global ecosystems.”

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