Korea Digital Asset Custody launches 'KDAC-L,' a custody service dedicated to listed companies

Korea Digital Asset Custody (KDAC), a domestic digital-asset custodian, said on the 26th that it has officially launched 'KDAC-L,' a tailored custody service for listed companies.

KDAC-L provides, by default, a financial-industry-grade security system, including 100% cold-wallet storage and key management based on multi-sig and MPC (Multi-Party Computation) technology.

The service further focuses on addressing what listed companies considering digital-asset investments view as most important: responses to accounting audits and disclosure obligations. Specifically, as listed-company-specific features, it includes ▲issuance of an SOC (System and Organization Controls) attestation report for responding to external audits, ▲automatic provision of basic data for corporate disclosures, and ▲a multi-approval framework and segregation-of-duties functions for internal control. KDAC said, "This should help minimize compliance risks arising from listed companies' holdings of digital assets."

KDAC also reorganized its existing single custody service model by segmenting it based on customer characteristics into ▲'KDAC-L' for listed companies, ▲'KDAC-I' for issuing foundations, and ▲'KDAC-C' for general corporations. It also plans to sequentially launch, during the first quarter of this year, 'KDAC-Fund,' a service dedicated to digital-asset funds, and 'KDAC-G' for public institutions, completing its service lineup for corporate and institutional clients.

KDAC CEO Cho Sung-il said, "With financial authorities' announcement of guidelines and the prospect of allowing corporate investment becoming clearer, inquiries from listed companies are surging," adding, "With commercial banks such as Shinhan Bank and NH Nonghyup Bank participating as shareholders and a management team led by executives formerly from the Korea Securities Depository, we will be the safest partner for listed companies as an operator equipped with the trust and systems of regulated finance."