Korea Digital Assets Launch Cryptocurrency Custodian Services for Institutional Investors
Available for BTC, ETH, KLAY
“Allowing institutional investors and corporations to securely purchase cryptocurrencies while minimizing price volatility.”
KODA (Korea Digital Assets), funded by KB Kookmin Bank (Korea’s largest retail bank), announced on May 3rd, the launch of its institutional grade digital asset custodian services.
KODA’s digital asset (cryptocurrency) custodian services protect clients’ assets such as BTC, ETH and KLAY from risks such as external hacking and the compromise of private keys, while also offering investment instruments like staking. KODA’s custody backend was developed in conjunction with Haechi Labs.
KODA’s digital asset services also allow institutional investors to securely buy and sell cryptocurrency with minimal price volatility. “Since it has been impossible to deposit and withdraw KRW for corporate accounts at the four major cryptocurrency exchanges in Korea, there was no adequate channel for institutions to gain cryptoc exposure,” a KODA official said. “We will broker OTC transactions through select partners.”
KODA plans to initially support three major cryptocurrencies; Bitcoin (BTC), Ethereum (ETH), and KLAY. KODA will expand its services to real world asset backed tokens, such as real estate, gold, and physical art, as well as NFTs in the near future.
“Trust is important in the digital asset market for corporations,” said Moon Geon-ki, CEO of KODA. “We will support all the services necessary for corporations to invest in digital assets.”
KODA is a digital assets company co-founded by KB Kookmin Bank, Haechi Labs, and Hashed in November 2020.
