KODA completes KRW 10 billion Series A… Hanwha Investment & Securities and others join as new shareholders

Digital asset custody specialist KODA (Korea Digital Asset, CEO Jo Jin-seok) announced on the 21st that it has completed a Series A fundraising totaling KRW 10 billion. Existing investors Hashed, KB Kookmin Bank, Altos Ventures, and Hatch Labs all participated in this round, and Hanwha Investment & Securities, IBK Capital, and Kyobo Securities joined as new shareholders.

KODA is a joint venture established by Hashed and KB Kookmin Bank that provides digital asset custody (storage) services to institutional and corporate clients. Based on institutional-grade security infrastructure and verified internal control systems, it has secured about 80% market share in the domestic digital asset custody market, and places the highest value on the safety of client assets and transparent operations.

Recently in Korea, institutional access to digital assets has been rapidly expanding as regulatory improvements continue, including discussions on allowing corporate accounts, consideration of institutionalizing KRW stablecoins, and discussions on spot Bitcoin exchange-traded funds (ETFs). Accordingly, demand for custody infrastructure with verified security, internal controls, and scale is also rapidly increasing. With this investment, KODA plans to not only meet global standards for cold wallet infrastructure but also further strengthen its large institutional customer base.

Through this capital increase, KODA has secured the capacity to meet the capital requirement of KRW 10 billion in accordance with trust company standards. At the same time, it is pursuing a plan to increase the voluntary insurance it previously subscribed to from KRW 30 billion to a limit of KRW 50 billion. In addition, it is the first domestic virtual asset operator to undergo an SOC 1 Type II certification audit by Samil PwC, and it continues preparations to build security and control systems that meet global standards.

Furthermore, based on this investment KODA plans to concentrate investment across custody quality improvements, including ▲advancement of cold wallet infrastructure ▲strengthening security and compliance systems ▲expanding institutional client onboarding capabilities. Through this, it intends to proactively respond to increasing institutional demand and complete custody infrastructure with global competitiveness.

Kim Seo-joon, CEO of Hashed, said, "Digital asset infrastructure matures steadily regardless of market fluctuations. KODA is the team that has been at the forefront of building a foundation that allows institutions to participate with confidence," adding, "This investment will be a continuation of an important trend in which domestic custody infrastructure moves toward global standards."

Jo Jin-seok, CEO of KODA, said, "Although the domestic corporate market did not open for some time and the environment was difficult, KODA has steadily built trust and reputation as a leader in the custody market," and added, "We are very grateful that our existing shareholders and new investors have recognized this process."

He added, "Going forward, we will strengthen security and control systems including SOC certification and complete institutional-grade custody infrastructure with global competitiveness."