The capitalization of the Korean exchange operator Upbit has exceeded $10 billion – Bits Media

Dunamu Company, operator of the leading Korean cryptocurrency exchange Upbit, held a round of funding, within which it collected $85 million. Now the capitalization of Dunamu is estimated at $10 billion.

Altos Ventures venture capitalists participated in the funding round, Hana Financial Investment и Saehan Venture Capital. The latter invested around $51 million, more $26 Milln provided Hana Financial and the remaining $8,5 Milln were invested in Altos.

Note, that the capitalization of Dunamu increased very quickly - back in February, the company was estimated at $ 1.3 billion, And by April, capitalization has already reached $5,7 billion. In addition to Upbit, Dunamu runs several more firms in the financial technology industry. However, it is after the foundation of upbit in 2017 year Dunamu began a sharp increase.

The UPBIT operator considers the possibility of entering the stock exchange. Analysts predict, that in case of successful IPO, Dunamu capitalization may exceed $30 billion, what will make it one of the largest companies in South Korea.

Recall, that the authorities of South Korea introduced a rigid regulation of cryptocurrency exchanges, In connection with which most sites announced the closure. Only four largest exchanges - upbit, Bithumb, Coinone and Korbit were able to fulfill the requirements of the regulators. 35 The sites will be stopped
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