Delio Raises Approximately KRW 780 Billion from Global Virtual Asset Investment Institutions

[Asia Economy Reporter Jang Hyowon] Delio, a virtual asset fintech specialist company (CEO Jung Sangho), announced on the 7th that it has successfully attracted approximately 780 billion KRW worth of cryptocurrency from multiple global virtual asset specialized investment institutions. With this, Delio will be able to provide more stabilized services as well as secure a more diversified virtual asset portfolio.

Delio announced on the 7th that it signed a virtual asset supply contract worth about 600 million USD (approximately 773.3 billion KRW) with the global virtual asset lending platform BlockFi and the global virtual asset investment fund Three Arrows Capital.

Through this contract, Delio will receive 600 million USD worth of Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) from the two companies. Delio plans to primarily use the secured funds to expand the assets handled in its current deposit and lending services and to increase loan limits.

In particular, since BlockFi and Three Arrows Capital, with whom the supply contract was signed, are representative global virtual asset investment institutions, the company expects significant synergy for future overseas market expansion.

BlockFi, one of the companies that signed the supply contract, is a global virtual asset lending platform company based in New York, USA, which was valued at about 4.75 billion USD (5.93 trillion KRW) last year. Currently, Delio is discussing various virtual asset financial business cooperation plans with BlockFi beyond this supply contract.

Three Arrows Capital, which recently relocated its headquarters from Singapore to Dubai, is a representative global virtual asset investment fund. It actively invests in high-growth virtual assets and related companies worldwide and has invested in Avalanche, Synthetix, Solana, and Axie Infinity, among others.

A Delio official said, “Since securing the international cryptocurrency license, the US MSB (Money Services Business) license last year, we have laid the groundwork for overseas market expansion and are strengthening business cooperation with various global financial companies while building a joint virtual asset ecosystem. Going forward, Delio will continuously acquire the necessary virtual asset licenses in each country to leap forward as a global virtual asset bank.”

A BlockFi official also emphasized, “We are pleased to collaborate with Delio, which has secured the Korean virtual asset market and obtained national certification. Starting with this supply contract, we will expand various virtual asset-related businesses.”

Recently, Delio announced that it plans to introduce various financial services such as deposit, lending, and payment for Ripple (XRP), which ranks 7th in virtual asset market capitalization as of the 7th. Furthermore, last month, it officially launched its own NFT marketplace ‘blubaay’ and plans to enter the NFT collateral loan and rental market. Delio intends to accelerate its growth as a regulated virtual asset financial company through diverse product development and service expansion.

This content was produced with the assistance of AI translation services.