Haechi Labs along with Hashed introduced a new blockchain-based institutional digital asset custody solution, KODA, on May 03.
As per the announcement, one of the largest banks in South Korea, Kookmin Bank, has lent its support to KODA.
In November 2020, Haechi Labs made an announcement regarding KODA for the first time. At that time, the company decided to complete the project as soon as possible and introduce the custody solution within a year. Currently, the solution has been listed on selected over-the-counter (OTC) crypto exchanges.
The KODA solution has been introduced with an aim to support the digital assets present in the market. However, currently, the solution is supporting the three tokens, i.e., Bitcoin, Ethereum and KLAY.
Klay is a token for the blockchain network KLAYTN. One of the largest social networks of South Korea, Kakao, build the KLAYTN.
According to the notification, in the future, the KODA solution will lend its support to staking services.
During the first half of the year 2021, other digital currencies in the market will also be supported by KODA solutions. This digital asset custody solution is also exploring to offer its services to NFTs.
Apart from this, while depositing or withdrawing a cryptocurrency through an exchange, the KODA solution will also perform an anti-money laundering procedure. In partnership with a professional services firm, KODA would offer legal, accounting and tax services to its customers.