Gamevil Invests 31.2 Billion KRW in Virtual Asset Exchange 'Coinone'

[Asia Economy Reporter Kang Nahum] Gamevil announced on the 19th that it will make a strategic investment in Coinone, one of the top three virtual asset exchanges in Korea.

This investment will be made by acquiring 13% of Coinone's existing shares, with a total investment scale of 31.2 billion KRW.

Coinone is a virtual asset platform company led by CEO Cha Myung-hoon, a security expert and former white-hat hacker. Based on outstanding security and trading engine technology, it is rapidly growing alongside the activation of the virtual asset market. Additionally, it is focusing on new businesses such as next-generation financial projects called De-Fi (Decentralized Finance).

Through this investment, Gamevil plans to collaborate with Coinone on technologies such as large-scale traffic processing and hacking response security technologies.

A Gamevil official stated, "In the mid to long term, this will help effectively utilize blockchain technology in the gaming industry and capture various future business opportunities derived from the virtual asset ecosystem."