Streami has received a strategic investment from the Digital Currency Group (DCG), according to a release. Streami is based in South Korea and operates GOPAX, a crypto exchange. DCG is said to be the second-largest investor in Streami and previously participated in the Series A round in 2016. Details on the investment were not revealed. Streami’s seed funding round was led by Shinhan, one of South Korea’s largest commercial banks.
Barry Silbert, founder and CEO of DCG, stated:
“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.”
Streami co-founder and CEO Junhaeng Lee added:
“After observing the Bitfinex hack and China’s cryptocurrency crackdown in 2016, we decided to build the reliable cryptocurrency market infrastructure that South Korea needed, starting with an exchange.”
GOPAX claims to be the market leader in compliance and security in a market roiled by regulatory questions. It has been widely reported that the South Korean government is carrying out a crackdown on illegal activities related to cryptocurrency as interest in crypto rises.
Streami reports that in Q1 of 2021, retail users have grown over 100% to 700,000, and including over 150 new corporate clients.
“We are the fastest growing exchange with the highest number of corporate clients,” says the company.