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The South Korean financial institution supports the U.S.-based blockchain entity to expedite enterprise wallet technology and the tokenization of real-world assets.
(hamedtaha/Unsplash, modified by CoinDesk)
Key points:
- Kresus has received approximately $13 million (KRW 18 billion) from Hanwha Investment & Securities.
- The investment will support the infrastructure for enterprise wallets and platforms for real-world asset (RWA) tokenization.
- This agreement highlights ongoing institutional interest in blockchain infrastructure despite fluctuating crypto markets.
The wallet infrastructure company Kresus Labs has garnered around 18 billion won ($13 million) from Hanwha Investment & Securities, a prominent financial institution in South Korea.
This funding comes after a memorandum of understanding established in December during Abu Dhabi Finance Week and aims to enhance Kresus’ enterprise digital wallet infrastructure, real-world asset (RWA) tokenization platforms, and on-chain financial workflows.
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The wallet and blockchain infrastructure firm creates digital asset solutions for both consumers and enterprises, incorporating “seedless” wallet recovery technology and security systems based on multi-party computation (MPC).
Seedless recovery denotes the method of regaining access to a digital asset held in a wallet without the need for the conventional sequence of 12-24 random words, which could present a challenge for some users.
Kresus additionally provides wallet infrastructure and tokenization platforms tailored to fulfill the compliance and operational standards of institutions.
Hanwha intends to leverage Kresus’ technology to improve its client-oriented digital asset services and to create tokenized alternatives to conventional financial products. For established financial entities, wallet security and compliant tokenization frameworks represent significant hurdles to deeper engagement with blockchain-based markets.
The funding round emphasizes the persistent flow of capital into infrastructure providers, even amid volatility in the broader crypto markets. Instead of supporting speculative tokens, institutions are increasingly focusing on custody, security, and tokenization layers that can integrate with existing financial systems.
