Dunamu, the operator of major South Korean cryptocurrency exchange Upbit, is progressing with blockchain development as its blockchain arm, Lambda256, secured new funding.

Co-ordinate to a Dec. 15 annunciation, Lambda256 raised lxx billion Korean won ($60 million) in a Serial B round, valuing the visitor at over $300 million. The house is focused on enterprise-grade chains for businesses, edifice on its own blockchain protocol, which is called Luniverse.

The funding round included major venture capital firms and private investors like tech giant Hanhwa Systems, travel tech startup Yanolja, bikes manufacturer Daelim, DSC Investments, Shinhan Venture Majuscule, KB Investments and SBI Investments. Dunamu participated in the round also.

Some of the new investors, such as Daelim and SBI Investments, are clients or partners of Lambda256 for a number of solutions including a blockchain-based decentralized identity management organisation, Luniverse nonfungible tokens (NFT) and Luniverse's blockchain consortium chain.

The new funding will help Lambda256 further expand its Blockchain-as-a-Service products. "With the funding, nosotros're on a articulate path to diversifying talent pools and accelerating our blockchain roadmap into various global ecosystems," Lambda256 CEO Jay Jaehyun Park said.

Lambda256 is a sis firm of Upbit, one of the largest crypto exchanges in South korea, with a total daily trading volume of $4 billion, co-ordinate to CoinGecko.

Related: Korea's FSC confirms that NFTs will not exist regulated

Lambda256 implemented its proprietary NFT technology for Upbit NFT, the crypto exchange's NFT market platform, launched in November 2022. Earlier this calendar week, Dunamu CEO Lee Sirg-oo reportedly appear global expansion ambitions, especially referring to its joint NFT venture with Due south Korean amusement company HYBE.

In August 2022, Lambda256 also launched VerifyVASP, a regulatory compliant solution targeting virtual asset service providers to ensure data integrity in compliance with the "travel rule," which is a Financial Action Task Forcefulness guideline used as an Anti-Money Laundering regulation.