A South Korean bitcoin company Coinplug has raised $5 million of investments, reportedly reaching a total of $8.3 million in funding.

The company has ambitious plans which include creating a global remittance service and providing an efficient blockchain platform for some of the leading Korean banks.

Currently Coinplug provides exchange services, wallet services and develops their own APIs. Along with that, the company issues bitcoin debit cards and offers goods to pay for with bitcoin on their ecommerce page “Coingift”.

Another major Coinplug's achievement is its blockchain-based authentication system which has been awarded nearly $45,500 at the JB Financial FinTech competition in June.

The system, along with a few Coinplug's technologies of other kind, has got a patent and soon will be on sale internationally. However making blockchain more widely accepted in their home country, South Korea, is still the main priority for Coinplug.

Coinplung is not the first to be eager to propagate a broader uptake of blockchain in South Korea. In February, the Bitcoin Centre Korea was established to help bitcoin start being seen as a “potential mainstream currency”. The centre holds regular meet-ups to help everyone who wants to learn about the bitcoin digital currency and to unite bitcoin enthusiast, providing them with a space where they can exchange their thoughts concerning the technology.

Maria Rudina