Wemade Tree Makes Strategic Investment in Cryptocurrency Asset Management Firm 'Hyperism'

[Asia Economy Reporter Buaeri] Wemade's blockchain subsidiary Wemade Tree announced on the 11th that it has made a strategic investment in the cryptocurrency financial services company 'Hyperism.' The investment amount was not disclosed.

Wemade Tree operates various blockchain businesses based on its own blockchain platform WEMIX, including blockchain wallets, decentralized exchanges, blockchain games, and NFT markets.

Hyperism was established in January 2018 as Korea's first institutional specialized cryptocurrency asset management company. Composed of executives from Seoul National University and Pohang University of Science and Technology, Hyperism currently manages cryptocurrency on behalf of over 50 institutional clients, including major domestic corporations and qualified investors from the US, Japan, Singapore, and the Middle East. Through this common stock issuance, Hyperism was recognized with a corporate valuation of 120 billion KRW.

Kim Seok-hwan, CEO of Wemade Tree, said, "Since the end of last year, we have judged that the growth of the institutional market confirmed in the US virtual asset industry will soon appear in Korea as well, and we made a preemptive investment." He added, "We will continue to expand the virtual asset financial business and sustain investments."

Oh Sang-rok and Lee Won-jun, CEOs of Hyperism, said, "We plan to actively cooperate in the operational field with Wemade Tree's own blockchain platform, WEMIX."