Lambda256

South Korea · IT Services And IT Consulting

Originally launched as the in-house blockchain research lab of Dunamu, Lambda256 (co-CEOs Uichung Chung and Yongshin Park) spun off as an independent corporation in March 2019. They are at the forefront of commercialising blockchain technology and building its ecosystem through the development and operation of 'Luniverse', a cloud-based blockchain infrastructure and Web3 development platform. They have recently launched 'NODIT', a new Web3 development platform providing specialised node services and Web3 Data APIs for constructing blockchain services targeting public chains such as Ethereum and Polygon and are currently operating a free beta version. Lambda256 has supported the development and operation of NFT markets such as Upbit NFT and Momentica through Luniverse and is leading the Security Token Offering (STO) market in collaboration with Shinhan Investment Corp., Eugene Investment & Securities, etc. They are also collaborating on NFT tech and business with domestic and foreign companies like Lotte Home Shopping, Hyundai Department Store, Supra, and Arkpia. In 2019, Lambda256 commercialised the world's first global Travel Rule service, 'Luniverse Travel Rule', for compliance with the digital asset Travel Rule regulation, and commercialised it through its affiliate 'VerifyVASP'. In Korea, since the revised Special Payment Act was fully implemented on March 25, 2022, domestic digital asset exchanges including Upbit have been using VerifyVASP. In March 2021, they attracted consecutive investments in 'Series A' and 'Series B' in December, achieving a cumulative investment of KRW 105.5 billion. In December 2022, they were awarded the Minister of Science and ICT commendation (Blockchain sector) at the '2022 Blockchain Promotion Week' event in recognition of their contributions to the spread of blockchain and the development of the industry.