South Korean Bitcoin Startup Coinplug Secures Further $400k Investment
South Korean bitcoin services startup Coinplug announced this week that it has secured another $400,000 funding in a personal investment from Tim Draper of venture capital firm DFJ. Chol Hwan Kim from Key Initiatives Technical Entrepreneur also participated in the investment. This funding is in addition to the $400,000 Coinplug has already received from Silicon Valley investor SilverBlue in November last year. Bitcoin ATM, Gangnam style. As well as its bitcoin exchange, Coinplug also develops wallet and merchant payment software. Last month it even launched its own two-way bitcoin ATM in....
Related News
Korean startup Coinplug has closed an investment round paid partly in bitcoin. Coinplug raised $400,000 from Cupertino-based fund SilverBlue, with half the amount raised in bitcoin and the rest in fiat currency. The startup plans to launch a digital currency exchange, wallet and merchant platform in Korea in mid-December. "It's SilverBlue's first investment," said SilverBlue managing director Richard Yun. "In Korea, people take to new technologies really quickly, so I think [bitcoin usage] is going to boom in Korea, like China." According to Yun, who has a board seat at Coinplug and will....
South Korean-based bitcoin services company Coinplug has reportedly raised $400,000, according to CoinDesk. The news comes from an announcement made this week, in which VC firm DFJ Partners contributed the capital along with investor Chol Hwan Kim. This investment is an addition to a $400,000 investment received last year in November. The company's own Richard Yun states that Coinplug is planning to use the funds to bring in more engineering folks to develop their payment products quicker. CoinDesk notes that Coinplug is also planning to release an English language version of their....
Coinplug, the South Korean bitcoin exchange and merchant software developer, has released three apps for Android devices that include a bitcoin wallet, a trading app, and a POS system for merchants. They are the first mobile bitcoin apps available in Korean. The company's website also now features a map to find merchants accepting bitcoin and using its POS software. Maps will be updated daily to include any new businesses, which Coinplug also supplies with Korean-language 'bitcoin accepted here' window signs. Coinplug has developed its own native payment processing software, currently....
[Update: We received more information on this story from two CoinTelegraph sources in the Bitcoin space who asked not to be named. One visited several 7-Eleven stores in Seoul and reported that he could not find the OKBitCard and that staff did not know what it was. The other source works for Coinplug and verified that it is possible to buy bitcoins through a pin code in the form of a receipt in every Korean 7-Eleven store. He said the cashiers will be trained on the procedure over time, and that eventually Coinplug will issue and distribute the actual cards. At this time, we have yet to....
South Korean bitcoin multi-services company Coinplug announced yesterday it has closed a Series A funding deal worth $2.5m from mainly local venture capitalists. The new investment brings the firm to a total of $3.3m raised so far. This week's deal notably included bitcoin venture capitalist Tim Draper, but was led by Mirae Asset Venture Investment, an arm of Seoul-based financial industry giant Mirae Asset. The round also included major Korean VC firm Bokwang Investment Corp, Capstone Partners and DSC Investment. Coinplug had previously received two funding rounds worth $400,000 each in a....