Song Chi-Hyung Biography

Song Chi-Hyung is the CEO of Dunamu and the founder of Upbit, South Korea's largest cryptocurrency exchange. In October, Upbit obtained money from internet giant Kakao Corp. through its holding company Dunamu and collaborated with US-based Bittrex to trade what is now a total of 120 tokens from 214 markets. By December, it had an average daily trading volume of $4.7 billion and had reached as much as $11 billion in a single day. Dunamu, which meaning two trees, was founded in 2012 by Song as a news aggregator but swiftly shifted to fintech. It first grabbed Kakao's attention in 2013, when it received $187,500 in funding from its holding company, K Cube Ventures, followed by $3.8 million from the firm two years later. The collaboration resulted in the development of KakaoStock, a mobile stock trading software with over 300,000 users that harnesses the 50 million-strong Kakao instant messaging platform. Song 38, a graduate of the elite Seoul National University, with a Bachelor's degree in computer science and economics. He dropped his MBA aspirations in the late 1990s, following a huge upgrade in Korea's internet infrastructure, and found his first tech job at an IT business.

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