https://platum.kr/archives/155861
Korea Digital Asset Trust (hereinafter referred to as KDAC), a digital asset custodial company, has attracted strategic investment from Shinhan Bank.
KDAC is a custodial service provider that stores and manages various types of digital assets held by companies and individuals. It was established in March 2020 as a consortium of leading companies in the blockchain field such as Corbit, Blocko, and Fair Square Lab. KDAC is an independent third-party company that has an independent technology-based cold wallet and operation platform developed by combining the experiences and capabilities of consortium participants.
KDAC signed an MOU with Shinhan Bank in October last year to prepare for full-scale business cooperation and investment attraction. KDAC and Shinhan Bank will conduct joint R&D to advance into the digital asset custodial business, and will gradually strengthen business cooperation in the overall digital asset-related services with custudy and De-Fi as the main focus.
In addition, through cooperation with Korea’s first virtual asset exchange, Kobit, a leading distributed ledger technology company, Blocko, and a digital asset research company, Fair Square Lab, various services and financial products are developed to improve customer convenience and diversify asset portfolios. The plan is to create a business model.
KDAC announced that it has completed the establishment of a cold wallet solution and operating security system for custody purposes in preparation for the expansion of the digital asset market and the enforcement of the special law. In the future, it plans to develop its own hot wallet service and various application services including De-Fi.
KDAC CEO Joon-Hong Kim said, “We are pleased to be able to promote the excellence and reliability of KDAC services through this strategic investment with Shinhan Bank, and we provide safe and convenient digital asset management services with Shinhan Bank, the best financial group in Korea. “We will promote the acceptance of digital assets of the company.”