Copy link
Increase text size
Decrease text size
Link copied

Korean blockchain startup Coinplug raises $6.4M from Mirae Asset Venture Investment, KB Investment

Fri, 25 Oct 2019, 09:10 am UTC

South Korean blockchain firm Coinplug has raised 7.5 billion won (~ $6.4 million) from venture arms of a number of Korean financial institutions, bringing the total funding to over $12 million to date.

The round, which Coinplug describes as Series B-2 round, drew support from Mirae Asset Venture Investment, a subsidiary of Mirae Asset Daewoo; Smilegate Investment; and KB Investment, a venture arm of the KB Financial Group.

The latest round follows a $5 million Series B-1 round in October 2015, which was backed by KB Investment. Mirae Asset Venture Investment is also an existing investor, having participated in Coinplug’s Series A round in 2014.

Founded in 2013, Coinplug is among the longest-running bitcoin exchange, wallet and payment processing services provider in South Korea. The company plans to use the fresh funding to further develop its decentralized identification technologies, with particular focus on its commercialization and expansion to overseas markets.

“We are one of the most experienced blockchain technology companies in the world. With the support of all of our investors and partners, we will continue demonstrating the value of blockchain technology and our company” said Ryan Uhr, Coinplug’s CEO.

Coinplug has been granted 98 blockchain patents to date. The company is actively involved in a number of government-backed projects including six major scale public and private sector projects. These include applications for Korea Postal Services, SKT mobile, Korea Internet Services Agency (KISA), Korea Southern Power Plant (KOSPO), and Busan City Blockchain De-regulatory Zone.

“We’ve been following Coinplug’s development and were impressed by its constant participation in multiple government projects as well as the network of partners it has,” said Director Park Duk-kyu of KB Investment.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Moses
  • 2020.04.29 18:24:15
I am a cryptocurrency trader and i make over 200% daily, If you are interested,i can teach you how to trade and also help you achieve your goal in life with crypto i can turn
$4500 into $35000 in less then four weeks,now that bitcoin has low prices...please note that cryptocurrency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door ???? inbox me for more me on WhatsApp +1(206)-742-5358 thank you to you all and God bless you .
  • 0
  • ·
  • 0
  • Bitcoin (BTC) $36,698.00 (+3.77%)
  • Ethereum (ETH) $1,270.31 (+11.53%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Cardano (ADA) $0.353400 (+17.25%)
  • Litecoin (LTC) $147.04 (+5.53%)
  • Bitcoin (BTC) $36,698.00 (+3.77%)
Feb 21, 2020 (Friday)
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
Brazil to launch new payment system in response to cryptocurrencies
Digital currency exchange Coinbase Pro lists Kyber Network token
Norwegian Air to soon start accepting crypto payments
Swedish central bank begins CBDC pilot with Accenture
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
Telecom companies complete cross-carrier mobile payments using blockchain
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
South Korean ICO project discontinued, to return $7.5M to token holders
Samsung maintains crypto support in soon-to-launch Galaxy S20
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
Coinbase becomes first crypto company to receive Visa principal membership
Dubai Economy and six banks launch KYC Blockchain Consortium
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.