Korea Digital Asset Custody (KDAC), a digital asset custody company, announced on the 26th that it has completed a Pre-Series A investment. This round of funding is a strategic move to address the expanding institutional digital asset custody market and enhance KDAC's technological and security capabilities.
With the recent emergence of virtual asset holding strategy companies, the launch of virtual asset spot ETFs, and the review of the issuance of Korean Won stablecoins, demand for institutional custody is expected to expand. Accordingly, KDAC has secured funds to enhance its operations and infrastructure.
This round of investment involved existing shareholders Shinhan Financial Group and NH Financial Group, who made additional investments through their affiliates, and Taekwang Group joined as a new shareholder. Participating companies included Shinhan Venture Investment, Heungkuk Life Insurance, Tsis, and NH Venture Investment/NH Investment & Securities. This investment solidifies KDAC as the only digital asset custody company in Korea where financial institutions hold more than 50% of the total stake.
Kim Jun-hong, CEO of KDAC, said, “With the government’s imminent introduction of the second phase of the virtual asset bill, we have secured the capacity to proactively respond to regulatory changes.” He added, “Through this investment, KDAC will establish itself as Korea’s leading custody platform with world-class stability and regulatory response capabilities.”
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