KODA (Korea Digital Asset), a digital asset custody company, announced on the 21st that it has completed a Series A funding round totaling 10 billion won. Existing investors Hashed, KB Kookmin Bank, Altos Ventures, and Haechi Labs all participated in this round, while Hanwha Investment & Securities, IBK Capital, and Kyobo Securities joined as new shareholders.
KODA, a joint venture between Hashed and KB Kookmin Bank, provides digital asset custody services to institutional and corporate clients. Building on its institutional-grade security infrastructure and internal control system, the company holds approximately 80% of the domestic digital asset custody market, prioritizing asset security and transparent operations.
In Korea, recent institutional reforms, such as allowing corporate accounts, institutionalizing KRW stablecoins, and discussing the introduction of Bitcoin spot ETFs, are expanding access to digital assets for institutions and corporations. Consequently, demand for custody infrastructure with security and control systems is also increasing. Following this investment, KODA plans to accelerate its efforts to meet global standards for cold wallet infrastructure and strengthen its large institutional client base.
Through this investment, KODA has secured the capacity to meet the 10 billion won capital requirement for a trust company. It is also considering increasing its voluntary insurance policy from 30 billion won to 50 billion won. Furthermore, it is preparing to establish a world-class security and control system, becoming the first domestic virtual asset operator to undergo a SOC 1 Type II certification audit by Samil PwC.
Building on this investment, KODA plans to focus its investment on improving the quality of its overall custody operations, including enhancing its cold wallet infrastructure, strengthening its security and compliance systems, and expanding its institutional client onboarding capabilities. Through these efforts, KODA aims to meet growing institutional demand and build a globally competitive custody infrastructure.
Kim Seo-jun, CEO of Hashed, emphasized that "digital asset infrastructure is growing regardless of market conditions," and that "KODA has been leading the way in establishing a foundation for institutional participation."
“We have built trust and a reputation in the custody market even in difficult circumstances,” said Cho Jin-seok, CEO of KODA, expressing his gratitude to existing and new investors for their evaluation.
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