Software company Microsoft purchased $14.8 million worth of stock in Korea-based gaming company Wemade. The company recently launched a stablecoin called Wemix, which was one of the reasons for their large investment round. Two additional companies participated in the investment round; one was Kiwoom Securities and the other was Shinhan Asset Management.
Microsoft supports a Korean gaming company called Wemade.
Microsoft participated in $46 million funding round to invest in a company that operates a blockchain game based in Korea. The software company purchased $14.8 million in bonds from Wemade; two other companies also participated in the purchase, for $21.2 million and $10.5 million. These bonds can be converted into cash, as stated in regulatory filings.
Since 2000, the company Wemade has launched more than 20 blockchain games. They consider this a major success during a difficult time for the cryptocurrency industry.