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Bitcoin Exchange Gopax Raises $23.7M In DCG Round

Streamy, the operator of South Korean crypto exchange Gopax, has announced the closing of its 30 billion won (~$23.7 million) Series B funding round, Digital Today reported.

Funding was provided by both existing investors Digital Currency Group (DCG) and Strong Ventures and new investors. The latter includes Z Venture Capital and KB Investment, a venture capital firm associated with the Softbank-Line joint venture.

As a result of the round, the company received a valuation of 350 billion won (~$276 million).

Streamy will use the funds raised to strengthen its exchange team and attract customers “through aggressive marketing.”

“We will do our best to modernize the system and strengthen investment stability by recruiting talented experts with good qualifications to the virtual asset platform team,” said Lee Joon-hyung, CEO of Streamy.

The exchange has entered into an agreement with Jeonbuk Bank that allows customers to use real-name bank accounts in accordance with regulator’s requirements. On April 28, the platform resumed operations after being suspended in September 2021.

According to the exchange website, accounts of foreign users of the exchange have since been closed.

Data: Gopax.

Recall that in March, the platform announced that the accounts of residents of the Russian Federation were blocked in connection with the sanctions of the US Treasury and the Foreign Assets Control Office of the EU.

Source: Fork Log



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