Coinplug Unveils its Big Bitcoin Plans
South Korean bitcoin exchange Coinplug has some big plans ahead. The company is distributing pre-paid bitcoin gift cards to about 24,000 convenience stores across the country. Thus far, about 8,000 of those stores are part of the 7-11 franchise, and other major chains are slated to be selling the cards by the end of the month. The company confirmed in a Reddit post: "We are in the process of distributing the cards to convenient stores." Coinplug's Richard Yun talks a little about how the process works: "When users redeem okBitcards, they automatically get an instant wallet. It's good for....
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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....
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 Korea and Silicon Valley based bitcoin company has recently closed its Series B fundraising round. The company has managed to raise $5 million in investment from a group of investment firms led by SBI Investment. According to reports, with the latest investment Coinplug has so far raised a total of $8.3 million in funding. The company is one of the leading bitcoin services providers in South Korea. Coinplug specializes in bitcoin exchange platforms like bitcoin exchange marketplace, wallet services, Point of Sale (POS) applications and more. Along with APIs for its....
South Korea’s largest credit card company is set to use a blockchain identity solution developed by local bitcoin startup Coinplug. The service will be based on what Coinplug calls FidoChain, a “private blockchain technology” aimed at providing a distributed means of verifying and maintaining digital identities. KB Koomkin Card, a subsidiary of KB Koomkin Bank, plans to complete its integration by the end of this year. The startup has been working in the area of digital identity for some time, netting a $45,000 prize last year after submitting a prototype system based on the concept to a....