Hanwha Investment & Securities invests $13 million in US-based Kresus…expands seedless wallets and RWA tokenisation

Hanwha Investment & Securities has invested about $13 million in US blockchain infrastructure firm Kresus Labs.

According to CoinDesk on the 18th (local time), Kresus Labs raised investment worth about KRW 18 billion from Hanwha Investment & Securities. The investment is a follow-up to an MOU signed at Abu Dhabi Finance Week in December last year, and aims to scale enterprise digital wallet infrastructure and its real-world asset (RWA) tokenisation platform.

Kresus Labs develops digital-asset wallets and blockchain infrastructure solutions for retail and institutional clients. In particular, it offers so-called “seedless” recovery technology that restores wallet access without the traditional seed phrase of 12 to 24 words, along with a security system based on multi-party computation (MPC).

Seedless recovery restores access to digital-asset wallets without entering a conventional seed phrase, and is seen as lowering the barrier to entry. Kresus also operates wallet infrastructure and a tokenisation platform designed to meet institutions’ compliance and operational requirements.

Hanwha Investment & Securities plans to leverage Kresus’ technology to enhance its digital-asset services for clients and to develop tokenisation models for traditional financial products. For incumbent financial institutions, wallet security and a regulation-friendly tokenisation framework are cited as key tasks for expanding participation in the blockchain market.