Junhaeng Lee, Co-Founder and CEOThe ever-increasing popularity of blockchain can be gauged from how financial institutions across geographies have developed a plethora of use cases around it. With an imminent legislation to institutionalize cryptocurrencies such as bitcoin and ethereum on the anvil, South Korea is being dubbed as the “Go to FinTech hub in East Asia” with a specific focus on blockchain technology. Seoul-based Streami has rapidly emerged as a competent FinTech startup that is pioneering this marked shift from traditional finance to blockchain technologies that help incorporate efficiency and openness into an opaque system. With a seed investment from Shinhan Bank, the largest national bank in Korea, Streami began delivering a suite of services— Streamwire, GOPAX and Cryptopic—with a focus on extending the scope of digital currency solutions and providing more affordable and responsible financial services.
Streami endeavors to foster responsible innovations in the cryptocurrency ecosystem. Junhaeng Lee, Streami’s Co- Founder and CEO, emphasizes that “blockchain can make the world better only if the leading actors are responsible for its social consequences.” To this end, the company has developed StreamWire, a public blockchain-based remittance service for financial institutions. A key principle of the product is to introduce blockchain innovation in a way that is consistent with the existing regulatory framework. For its institutional clients and mainstream users keen on gaining access to cryptocurrencies, StreamWire offers a compliant solution that conforms to AML/CTF regulations. Streami also launched Cryptopic this August, as a method of delivering critical information for investing in cryptocurrencies to protect investors from fraudulent actors. The project hopes to create a community where users in Korea and beyond can discuss various ideas and sense the mood of the market.
Another addition to Streami’s portfolio of services will be a cryptocurrency exchange— Global Online Professional Asset Exchange (GOPAX)—which is expected to launch on October 31st this year. The cryptocurrency exchange is being established with the vision of creating a reliable gateway through which investors can gain access to various innovations in the blockchain space. Although the service will cater to Korean customers in the initial phase, it has been designed to be easily accessible to investors around the world. “The competitive landscape is fierce when it comes to cryptocurrency exchanges,” says Lee, “but the market has wanted an exchange that puts the customer first—be they novices or professionals—for some while. GOPAX will fulfill this need.”
Blockchain can make the world better only if the leading actors are responsible for its social consequences
Home to some of the most senior back-end engineers and security experts in Korea, Streami is well-positioned to tackle the daunting task of delivering a cryptocurrency exchange. “Security and service reliability are key ingredients that we wanted to be sure to have from the very beginning,” Lee added, “I am confident that GOPAX will be the go-to exchange for any trader that wants a trusted partner for investing in blockchain innovations.”
Streami has evolved into a full-fledged public cryptocurrency expert with a very high appetite for innovation in the Blockchain technology realm. Going forth, Lee wants Streami to be recognized as a potent force that could lead socially responsible innovation for open and inclusive finance that blockchain promises.