South Korea-based blockchain company Streami has closed a strategic investment from Digital Currency Group, a New York-based venture capital firm.
The size of the deal was not disclosed, but this deal makes Digital Currency Group the second-largest shareholder in the company.
This investment also includes an exclusive regional partnership between Streami and Genesis, which is a DCG subsidiary that offers digital asset lending. This deal will enable the companies to offer flexible and fixed-term savings products.
Founded in 2015, Streami aims to improve the cryptocurrency market infrastructure in South Korea. Streami operates GOPAX, which it claims to be South Korea’s leading crypto exchange.
The company claims to have increased its retail users by 100% during Q1 2021, with it now serving 700,000 users. It also added over 150 corporate clients.
Digital Currency Group founder and CEO Barry Silbert said, “We expanded our investment in Streami because of their fantastic team and the incredible potential of the digital asset market in South Korea.
“Streami provides the critical foundation for this market to scale rapidly, and our investment will fuel its position as the most trusted digital asset platform in Korea.”
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