Share this article
Upbit Operator Dunamu Invested $46 Million in Blockchain Startups in Last Year
South Korean firm Dunamu, operator of cryptocurrency exchange Upbit, says it invested $46 million in 26 blockchain startups over the last year.
Updated Sep 13, 2021, 9:12 a.m. Published May 15, 2019, 1:01 p.m.
South Korean fintech firm Dunamu, operator of cryptocurrency exchange Upbit, says it invested 55 billion won ($46 million) in 26 blockchain startups over the past year.
The firm said Wednesday that the investments have been made mainly via its subsidiary Dunamu & Partners, which was launched in March 2018. At the time of the launch, the firm announced a three-year plan to invest 100 billion won ($84 million) in the blockchain industry.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The investments have been into companies that are focused on developing core blockchain solutions, as well as those related to fintech and games, Dunamu said, which also operates the Kakao Stock trading app.
Portfolio companies now include stablecoin-based payments network Terra, fintech startup Rainist and gaming software firm Dalcom Soft, according to the announcement. Peer-to-peer lending platform Honest Fund, online travel agency Tide Square and blockchain-based investment platform Finhaven have also seen investments from Dunamu.
Ryan Lee, CEO of Dunamu and Partners, indicated that the firm will continue to invest in blockchain and fintech startups this year, regardless of their size, stage and region.
“Our goal is to contribute to the healthy growth of the blockchain ecosystem by actively investing in startups with world class technology and services with potential for real-life implementation,” said Lee.
In particular, the firm will focus on companies that will help drive mainstream adoption of blockchain-based services and mobile fintech services, as well as those centered around individual content creators, according to the announcement.
Indeed, earlier this year, Dunamu backed a $3 million seed round for blockchain startup Band Protocol, which incentivizes reliable content producers with token rewards and staking.
The firm added Wednesday that it also partnered with games developer Neptune in April 2018 to set up a 100 billion won ($84 million) fund to invest in blockchain-based gaming companies.
South Korean won image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Federal Reserve Cuts Rates 25 Basis Points, With Two Voting for Steady Policy
The anticipated move comes as policymakers are still operating without several key economic data releases that remain delayed or suspended due to the U.S. government shutdown.
What to know:
- As expected, the Federal Reserve trimmed its benchmark fed funds rate range by 25 basis points on Wednesday afternoon.
- Today's cut is notable given the unusually large amount of public dissension among Fed members for further monetary ease.
- Two Fed members dissented from the rate cut, preferring instead to hold rates steady, while one member voted for a 50 basis point rate cut.
Top Stories
