- Second round of investment following Jae Kwon’s angel funding in 2022

- Leading the development of core infrastructure for the next-generation blockchain, Gno.land

- Accelerating Web3 adoption and blockchain accessibility through Gno.land

Onbloc Co., Ltd. (CEO Dongwon Shin), a blockchain infrastructure company based in South Korea, announced that it has secured a strategic investment of USD 4.33 million (approximately KRW 6.1 billion) from U.S.-based blockchain company NewTendermint. This marks Onbloc’s second funding round following an angel investment in late 2022 by Jae Kwon, the founder of Gno.land, reinforcing confidence in Onbloc’s technical capabilities and growth potential.

Gno.land is a next-generation smart contract platform led by Jae Kwon, co-founder of Cosmos and Tendermint. Designed to lower entry barriers for developers, Gno.land leverages Gnolang, a minimalist and efficient smart contract language based on Go. The project aims to onboard the vast Go developer community into Web3 by offering a secure, efficient, and reusable smart contract framework. Gno.land represents a paradigm shift in multi-user programming that no other solution offers. It is not just a blockchain; it is the world's first viable language-based multi-user operating system. Its ultimate goal is to host the world's knowledge base for the new millennium.

Founded in 2022, Onbloc has been a core contributor to the Gno.land ecosystem since its inception, building essential tools and infrastructure that reflect the platform’s founding philosophy. The company has led various community initiatives, including developing critical infrastructure such as a decentralized wallet, block explorer, and multi-node testnet projects.

Gno.land is currently preparing for the beta mainnet launch through its `testnet6` iteration. Onbloc is set to launch several core services with the beta mainnet, including the decentralized wallet Adena, the block explorer GnoScan, and the decentralized exchange GnoSwap.

Dongwon Shin, CEO of Onbloc, said, “We are honored to receive recognition for both the innovation of Gno.land and Onbloc’s technical capabilities. Through this partnership, we aim to enhance the quality of our core products and expand our engineering team focused on smart contracts and core blockchain development.” He added, “We will continue to accelerate key roadmap milestones and contribute to the expansion of the ecosystem centered around the GnoVM.”

Jae Kwon, CEO of NewTendermint, commented, “Tendermint changed the way blockchain developers think about blockchain consensus algorithms. Gno.land will change the way developers think about programming; we won't remember a time without it. Dongwon and Onbloc see what we see and have been key in building the Gno.land ecosystem. We look forward to our continued collaboration with our primary partner in Korea.”

Looking ahead, Onbloc plans to collaborate closely with the Gno.land team and continue its commitment to making Web3 more accessible to millions of developers worldwide through product innovation, technical support, and active community engagement.