ETHERLive
ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.

---

24hr ---
--%
Wednesday Apr 25th 2018
RESOURCES

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More
SUBMIT

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Contact Us

Upbit Launches Cryptocurrency Index While Parent Company Dunamu Invests $92 M In Blockchain

By

Jordan

Daniell

WriterETHNews.com

Local media is reporting that South Korean FinTech company Dunamu is investing big into blockchain development and startups. Meanwhile, the exchange owned by Dunamu, Upbit, announced it has developed a cryptocurrency index.

Announced earlier today, and reported by The Korea Herald, Dunamu – operator of the South Korean cryptocurrency exchange Upbit – will invest 100 billion won ($92.5 million) into blockchain technology projects over the next three years.

In light of the decision, Dunamu CEO Song Chi-hyung said: 

"There is high interest in cryptocurrencies and blockchain in Korea. And now is a pivotal opportunity for Korea to become the global mecca of blockchain-based technologies. Through this investment, we hope to become a foothold for youths who are interested in blockchain technologies to establish and run their own startups." 

According to statements by the exchange operator, blockchain-centric investments will include artificial intelligence, data analytics and management, and FinTech development through mergers and acquisitions along with equity investment. 

Moreover, Dunamu has tapped its chief investment officer, Lee Kang-jun, to head up a new venture capital subsidiary, provisionally known as Dunamu & Partners. 

In related developments, Upbit, which is said to have become the country's largest cryptocurrency exchange in a very short amount of time, has developed a cryptocurrency index for investors and traders. The index is scheduled to debut next month. 

Produced via calculating standard values in "confidence intervals" collected from Upbit's long-term transaction data, the index, called Upbit Crypto Index (UBCI) aims to help investors measure market conditions.

It remains unclear whether the exchange will try to market the UBCI internationally, but with Upbit's trading volume consistently high (eclipsing $11 billion in a single day on at least one occasion), exploring overseas partnerships could easily be its next step. 

Jordan Daniell

Jordan Daniell is a full-time staff writer for ETHNews with a passionate interest in techno-social developments and cultural evolution. Jordan enjoys the outdoors, especially astronomy, and likes to play the bag pipes and explore southern California on foot in his spare time. Jordan lives in Los Angeles and holds value in Ether.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest South Korea, Dunamu or other Ethereum wallets and exchanges news.