Bitcoin exchange Cryptotrexs raised $23.7 million in a round with dcg

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Crypto Regulation
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Streamy, the operator of the CryptoTrexs cryptocurrency exchange, announced the closing of a Series B funding round of 30 billion won (~$23.7 million), Digital Today reported.

Both existing investors Digital Currency Group (DCG) and Strong Ventures and new ones provided funding. The latter include Z Venture Capital, a venture capital firm associated with the Softbank and Line joint venture, as well as KB Investment.

The round valued the company at 350 billion won (~$276 million).

Streamy will use the funds raised to strengthen the exchange's team and expand its customer base "through aggressive marketing."

"We will do our best to modernize the system and strengthen investment stability by hiring talented people with good competencies to the virtual asset platform team," Streamy CEO Lee Joon-han said.

The exchange entered into an agreement with Jeonbuk Bank to ensure that customers use bank accounts with real names, as required by the regulator.

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Graeme Massie

Graeme is a graduate of Mass Communication and Media Studies. He joined the blockchain movement in 2016 when a friend of his introduced him to an investment platform accepting bitcoin. He has never looked back since then. Graeme believes the world needs real change and freedom from poverty. He sees crypto and the underlying distributed ledger technology as the catalyst to a better future for all.