September 29, 2023

Tishamarie online

Specialists in technology

South Korea’s Dunamu, to develop SWIFT-like bridge for Web3


South Korea’s wise contract auditing company is partnering with Lambda256, the blockchain subsidiary of Upbit operator Dunamu, to establish a bridge layer connecting the country’s fragmented decentralized finance (DeFi) and Net 3. ecosystem.

See similar article: Two crypto exchanges arrive at unicorn position in South Korea

Fast information

  • The new bridge will operate as a frictionless World wide web 3. fiscal layer that enables people to go and trade electronic belongings on many distinctive public blockchains — related to the SWIFT procedure in regular banking, Dunamu and explained.
  • Aiming to unify South Korea’s “fragmented” mainnet and DeFi current market, the new bridge layer will also enrich the interoperability between South Korean protocols.
  • will establish the bridge and a decentralized trade (DEX) on leading of Lambda256’s mainnet committed to accommodate decentralized applications (dApps) named “The Balance.”
  • “We are uniquely positioned to not only carry collectively the fragmented Korean crypto business, but join it to the relaxation of the environment,” stated Jisu Park, CEO and founder of
  • Dunamu operates Upbit, the most significant cryptocurrency exchange in South Korea — the business just lately turned the very first crypto corporation to be named a conglomerate by the state, with about 10.82 trillion received (US$8.7 billion) in whole assets.

See connected posting: South Korea hopes to institutionalize crypto by 2024


Supply url