Coinone is a fintech startup that provides several virtual currency services, innovating the financial system through blockchain technology. Its investment in Sentbe marks the beginning of the company’s path to actively invest in fintech and blockchain startups. Coinone’s investment reflects the company’s mission to build a foundation for growth and knowledge-sharing in the industry.
Founded in September 2015, Sentbe is a money transfer service that uses blockchain, a core technology in the fourth industrial revolution. The company has a strong presence in money transfer to Southeast Asia and is therefore targeting Southeast Asian consumers in Korea that need to send remittances to their home countries. Sentbe’s identity as a small-load remittance service is currently under review by the Foreign Exchange Transactions Act.
Through its investment in Sentbe, Coinone seeks to expand its presence in the foreign remittance market. Cha comments: “In the early days of a developing market, it is crucial to pay attention to the overall industry’s service enhancement and healthy competition. Coinone plans to actively invest in fintech and blockchain related startups to help the industry grow as a whole.”
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