Shinhan Bank Supports Streami with a $2M Seed Funding – Coin News

korea-1518581Blockchain settlement startup Streami has shut a $2m seed subsidizing round.

Streami drew support from Shinhan Data Systems, an IT partition inside Shinhan; ICB, an installments firm known for working with Asian e-business titan Alibaba; Bluepoint Partners, and a gathering of angel investors. In spite of the startup’s newcomer status, its sponsor to date incorporate Shinhan Bank, one of South Korea’s biggest money related administrations suppliers. The bank conferred ₩500m (generally $427,000) to the subsidizing round.

By focusing on the Asian settlement market from South Korea to China, including markets like Indonesia, Singapore, the Philippines, Hong Kong, and Thailand, Streami tries to individuals sidestep unlawful cash transmission administrations in the range.

“Streami’s main competitors, as of now, are traditional remittance service providers in general and illegal money transmitters that are estimated to take up significant Korea-outbound remittances market share. Streami will bring trusted, regulated liquidity into the crypto networks, ” said Junhaeng Lee, CEO and founder.

It is hard to make a conjecture precisely when banks will start to receive and hold onto bitcoin as a coin and as a budgetary innovation. In any case, it will positively set aside quite a while before the banks understand that their misinformed approach toward the “blockchain innovation” have taken a toll them a great many dollars which at last drove them to a deadlock.

“We hope to provide better services with blockchain-based foreign currency remittance FinTech services and collaboration with Streami. Moreover, we made an investment in Streami because we believe in their potential,” said ICB CEO Han Yong Lee.

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