South Korean blockchain startup Blockco has procured 9 billion Korean won ($7.5 million) in a recent Series B+ funds round engaged by major regional banks.

Banks continue fascination with blockchain



Backed from South Korea’s tech giant Samsung, Blockco announced the investment at a blog article about Aug. 22.

The funding round included South Korea’s oldest bank South Korea’s biggest foreign currency marketplace and also Shinhan Bank, Korea Exchange Bank, also known as KEB Hana Bank.

Additionally, healthcare-focused venture capital firm LB investment and entertainment start-up Dadam Game’s partnership arm likewise supported the new investment.

Blockco backed by Samsung and also Amazon



As blockchain tech business in South Korea, Blockco launched a blockchain-as-a-service platform called Coinstack straight back in 2015 and started enterprise block-chain proto-col Aergo mainnet at 2018.

As reported, Blockco participated in the Evolution of permissioned Block-chain system NexLedger in collaboration with Samsung Group along with Amazon Web Services.

Meanwhile, the recently, Shinhan Bank has been reported to the creation of a blockchain-based stock financing platform in partnership with financial services company Directional. KEB Hana Bank and Samsung Electronics are associates of the Southern Korean consortium that plans to establish a new block-chain dependent mobile identification in the country in 2020.