Korean Bitcoin Exchange Coinplug Receives $5 Million In Series B Funding

Korean Bitcoin Exchange Coinplug Receives $5 Million In Series B Funding

Coinplug, a Korea-based bitcoin exchange, wallet, card and payment processor targeting the Asian market, recently received $5 million in Series B funding, according to CrunchBase. The exchange has received $8.3 million in funding from four rounds from nine investors. In addition to providing a bitcoin exchange, a bitcoin wallet and payment processing, Coinplug also provides a two-way ATM and payment processor and offers a bitcoin gift card called "okBitcard" which is available at supermarkets. Coinplug's Nine Investors. Mirae Asset Venture Investment is Coinplug's lead series A investor.....


Related News

Coinplug's $2.5 Million Funding Round Reveals Bitcoin Growth in Korea

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....

Bitcoin Company Coinplug Raises $5 Million in Funding

South Korean bitcoin services company Coinplug has closed a $5m Series B funding round. The company drew support from firms including SBI Investment raising its cumulative funding to date to $8.3m. Joon Hyuk Park, investment director at SBI, told CoinDesk blockchain technology's potential to change legacy financial services, coupled with the team's business background and their execution capabilities had influenced his firm's decision to invest. Ryan Uhr, Coinplug's CEO, said the funding will be used to "ramp up development of its blockchain-based services", adding: "In the future,....

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....

New Startup Coinplug Plans To Bring Bitcoin To Korea

Coinplug has raised $400,000 half in fiat half in Bitcoin. Coinplug plans to be just like Coinbase except for the Korean market. The ease and security of Coinbase is one of the factors that led the price run up in the first half of 2013. For the first time, Americans were able to buy and sell Bitcoins with the same ease that they bought and sold things using Paypal. Orders placed on Coinbase were placed directly on Mt. Gox at the time and more buys than sells generally meant that the price was going up. Coinplug seeks to provide this service to Koreans, a notoriously technologically....

South Korean Exchange Coinplug Launches Country's First Bitcoin Apps

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....