"Upbeat Success Story" Dunamu...Leap into a 'Global Comprehe…
언론사(미디어) The Korea Economic Daily
글쓴이 Jin-Woo Park
보도일 2022-08-17
2,221회
작성일 22-08-18 13:50
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Cover Story
Dunamu
Based on Fintech 'Securities Plus'
Information can be checked and invested in one app.
Securities firms' accounts and Kakao Talk are popular
Another hit with unlisted stock services
Cryptocurrency transactions become 'the strongest'
In less than a year, Upbit became the No. 1 player in the industry.
Accumulated 8.9 million subscribers, 53 trillion won in deposits
Building trust, such as security and investor protection, 'front-up'
"Trade all digital assets"
NFT Market and Metabus Platform Launched
Joint venture with Hive in the United States
New businesses and overseas expansion proceed smoothly
Dunamu, the operator of Upbit, the nation's No. 1 cryptocurrency exchange, celebrated its 10th anniversary. Dunamu began to draw attention by launching the securities information service "Securities Plus" just two years after its establishment in 2012 under the banner of "Let's easily and conveniently deliver difficult finance to customers." In anticipation of the growth potential of the cryptocurrency market, Upbit, which was introduced in 2017, quickly rose to the top of the industry as it hit a jackpot. Dunamu's consolidated operating profit last year was 3.2713 trillion won and sales were 3.7045 trillion won.
○ Securities that penetrated the gap between securities firms
Dunamu released Securities Plus in 2014 in anticipation of mobile app-based stock investment becoming a trend. By making investment information and actual trading possible in one app, it has penetrated the gap in the mobile trading system (MTS) of securities firms. Securities Plus users can link securities company accounts with Securities Plus. Analysts say that this has resolved the inconvenience of opening a securities account. In particular, the connection between Kakao Talk and Securities Plus is considered the main factor that was able to rapidly increase the number of users.
By creating a community tab where shareholders exchange opinions, it was able to escape from the level of a simple stock discussion room by introducing a "shareholder certification" function. It also added a function to share real-time sales information of users. As of March, Securities Plus had accumulated 6 million downloads and accumulated transactions exceeded 200 trillion won.
Following Securities Plus, it launched 'Securities Plus Unlisted', an unlisted stock trading platform, once again penetrating the blind spots of securities firms. Unlisted stock transactions, which were made through online bulletin boards or offline on-site sales, have been transferred to the app in the wake of the unlisted Securities Plus.
The reason why unlisted stocks are not trading well is that they are likely to damage investors due to the opacity of unlisted stock transactions, high distribution margins, false sales, and information asymmetry. Dunamu solved this problem by introducing a securities firm's safety transaction service to Securities Plus unlisted. Securities Plus unlisted secured 1.3 million cumulative subscribers as of the end of last month. The cumulative number of transactions by investors is 300,000 cases, showing steady growth.
The company's self-evaluation is that Dunamu's core competency is its experience and technology in operating the securities platform. In order to provide customized investment information to users, it has also improved its own development of machine learning techniques. It designed its own artificial intelligence (AI) algorithm to diagnose investment items. It also introduced functions that focus on user convenience, such as preordering unlisted stocks 24 hours a day, including holidays.
○ "Upbeat Wings" Dunamu
The experience and technology of operating Securities Plus paid off through Upbit. As the cryptocurrency investment craze erupted in 2017, Dunamu immediately released Upbit in October of that year, challenging existing strong players Bithumb, Korbit, and Coinone. Less than a year after launching Upbit, Dunamu beat Bithumb to become the No. 1 operator. As of October last year, the cumulative number of Upbit subscribers was 8.9 million and user deposits were about 53 trillion won.
Dunamu makes security and anti-money laundering its top priorities in Upbit operations. Upbit is the first cryptocurrency exchange to secure all four security certifications, including ISMS-P and ISO security standards, which are one of the requirements for reporting virtual asset operators. In line with the specific Financial Transaction Information Act (Special Act) and the International Anti-Money Laundering Organization (FATF) recommendations revised in July 2020, the development of AML systems at the level of financial companies has been completed. Analysts say that it became the basis for the first time among domestic cryptocurrency exchanges to accept reports in October last year.
As cryptocurrency transactions increased significantly last year and attention was paid to investor protection, Upbit launched the first investor protection center and a 24-hour voice phishing call center in the industry late last year. Based on its financial power, it holds an Upbit Developer Conference (UDC) every year to attract excellent development personnel. In 2019, Lambda 256 was established as a blockchain technology subsidiary and is expanding the recruitment of related occupations.
○"Will Become a Digital Global Platform"
Dunamu plans to actively target the global market based on the success of Upbit and Securities Plus. In addition to the sale of cryptocurrency, the company plans to expand its business to linked services that reflect the demand of other users.
Dunamu released Upbit NFT Beta, an NFT market, in November last year. A few days later, he also unveiled the metaverse platform "Second Block Beta" at a press conference, raising expectations. Earlier this year, Hive America and Revels, a U.S. joint venture, were established. Revels is expected to launch a new NFT business based in Los Angeles that utilizes artists from Hive Labels. Dunamu Global, a subsidiary of Dunamu, will play a role in connecting overseas businesses.
Lee Seok-woo, CEO of Dunamu, said, "We will become a global comprehensive trading platform where the proper value of all assets can be found and distributed smoothly." It is an aspiration to allow all digital assets to be traded through Dunamu.
