Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Dunamu
World exchanges

Cryptocurrency exchange operator Dunamu attracted $85 million in investments

15.05.2022
2 min read

Dunamu company reached the $10 billion mark

Korean company Dunamu held a financing round, during which it raised $85 million. Thanks to this, analysts valued the business at $10 billion. Among the investors are venture capital companies Altos Ventures, Saehan Venture Capital and others.
Dunamu is the operator of the cryptocurrency exchange Upbit, and its value is growing rapidly. In the first quarter of 2021, the company was valued at $1.27 billion, and by April that figure had risen to $5.7 billion.
During the first months of this year Dunamu’s revenue exceeded $500 million, and 92% of the amount accounted for operating profit. The company expects revenue to cross the $1.7 billion mark by the end of the year.
Analysts predict that if Dunamu decides to list, the company could be worth around $25 billion or more.
The cryptocurrency exchange Upbit is the first trading platform of its kind in Korea to be authorized by a commission that deals with financial services. After reviewing Dunamu’s documentation and reporting, the regulator found that the operator and the platform itself meet all local legal requirements. Upbit cooperates with K-Bank, which also noted that the company conducts thorough verification of users and uses accounts that are registered to real names, not nicknames, to verify their identities.The Korean company DunamuIt should be noted that in addition to Dunamu and its exchange, only six companies have sent a request to the commission to continue operations. According to Korean laws, in order to provide services related to digital assets, operators must submit documentation for regulatory review. If cryptocurrency exchanges do not submit the necessary paperwork or do not receive approval from the commission, their activities will be considered illegal. Companies must adhere to all of the regulator’s requirements, including ensuring that they process and execute transactions with their partner banks. However, this point has its own requirements, as financial institutions are in no hurry to cooperate with cryptocurrency exchanges. Banks are afraid that such interaction will cause additional attention from financial regulators.
Experts estimate that at the end of the inspection period in Korea, about 40 operators out of 60 operating in the market will cease operations. Most likely, they will not be able to meet all the requirements of the regulator. Several local trading platforms have already closed.
However, Upbit has a strong position in Korea, as evidenced by the inflow of investments to its operator. Dunamu is actively developing and ready to cooperate with the regulator, making its operations transparent and within the law.

Tags: World exchanges
0
Previous Post Artificial intelligence: applications for banking Next Post American concern Ford invests in plant construction

You Might Also Like

HashKey Exchange
World exchanges
Cryptocurrency exchange HashKey Exchange ranked by Forbes
31.03.2025
Nasdaq Riga
World exchanges
Nasdaq Riga: history and modern development of the Riga Stock Exchange
11.02.2025
Argo Blockchain Nasdaq
World exchanges
Argo Blockchain withstood Nasdaq conditions, avoiding delisting
27.04.2023
IPO decline
World exchanges
Why IPOs are declining on the global stock exchanges
20.09.2024
minimize risks
World exchanges
Bank of Russia recommends the Moscow Exchange to minimize the risks of contracts with negative prices
10.04.2021
WE Soda intends to IPO
World exchanges
Major soda ash producer WE Soda plans IPO
05.11.2023

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics