1. PixelPlaygroundHome
  2. Metaverse Insights

Tilia Payment Platform Secures Strategic Financing with J.P. Morgan and Dunamu

• Metaverse Insights • 139 views

Tilia Payment Platform Secures Strategic Financing with J.P. Morgan and Dunamu

It is reported that Tilia, the payment platform of the Yuan Universe, has completed a strategic financing with the participation of J.P. Morgan Payments and Dunamu, the operator of the Upbit of the Korean Cryptocurrency Exchange. Since its spin-off from the founder LindenLab in 2022, Tilia has raised a total of US $22 million.

Tilia, a payment platform of the yuan universe, won strategic financing from J.P. Morgan Payments

Analysis based on this information:


Tilia, a payment platform for the Yuan Universe, has announced that it has successfully raised US $22 million in strategic financing. The funding was led by J.P. Morgan Payments and Dunamu, the operator of Upbit, one of the largest cryptocurrency exchanges in South Korea.

The Yuan Universe is a virtual economy that operates within the Second Life platform. It is estimated to have an annual GDP of over US $600 million, with millions of users worldwide using the platform for e-commerce, online gaming, and social networking. Tilia, formerly a subsidiary of LindenLab, was spun off from the parent company in 2022 to help streamline payment processing within the virtual economy.

This latest funding round comes on the heels of similar investments from blockchain tech firm, Blockchain Capital, and venture capital firm, SignalFire. Tilia has stated that the funds will be used to further develop the payment platform, including implementing new features and expanding its reach to new markets.

J.P. Morgan is a well-known financial institution with a long history of investment in technology and innovation. Their involvement in Tilia’s funding signifies the growing interest in the potential of virtual currencies and virtual economies.

Meanwhile, Dunamu’s involvement is representative of the booming cryptocurrency scene in South Korea. Cryptocurrency trading has exploded in popularity in the country, with Upbit being one of the most popular exchanges, handling billions of dollars in volume daily.

Overall, Tilia’s successful strategic financing round is an indication of the growing importance of virtual economies and the potential of cryptocurrencies. As the virtual economy continues to grow, payment platforms like Tilia will become increasingly necessary for the smooth operation of transactions. The investment from J.P. Morgan and Dunamu is a signal of confidence in Tilia’s ability to lead the way in payment processing in the virtual world.

In conclusion, the partnership between J.P. Morgan and Dunamu provides Tilia with the resources and expertise needed to develop and expand its payment platform. With the increasing interest in virtual currencies and virtual economies, Tilia is well-positioned to capitalize on this growing market.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/7219/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/14/2023 13:15
Next 03/14/2023 13:31

Recommended articles