Korea Digital Asset Custody Joins Injective as a New Validator – BitRss

Korea Digital Asset Custody (KDAC), a leading institutional digital asset custodian in Korea, has become a new validator on Injective, a prominent proof-of-stake (PoS) blockchain ecosystem. This development was announced here.

KDAC selected Injective as one of the initial blockchains to support due to its advanced technology and shared vision of integrating traditional finance with on-chain finance. KDAC is recognized as Korea’s premier digital asset custody service, with major Korean financial institutions such as NH Bank and Shinhan Bank among its shareholders.

The company has set itself apart by acquiring internal control certification (SOC ($0.00) 1 Type 2) for financial reporting, a significant achievement given Korea’s stringent custodial regulations for web3. KDAC currently manages crypto assets for nearly 100 large institutional clients, adhering to external regulatory and accounting standards.

Enhancing Security and Market Integrity

KDAC aims to enhance market integrity by providing secure storage and management of digital assets. The company employs air-gapped cold wallets, which are physically isolated from online networks, and advanced multi-signature technology to bolster security.

By becoming a validator, KDAC strengthens Injective’s global validator set, contributing to greater security and scalability. KDAC joins other prominent companies and institutions, such as NTT Digital, Stakewithus, gumi, and Galaxy Digital, in supporting Injective as validators.

Impact on the Korean and Asian Markets

The addition of KDAC as a validator is particularly significant for Injective’s expansion into the Korean market and the broader Asian financial sector. Korea has emerged as a critical hub for technological advancement and Web3 adoption, with a robust crypto market and forward-thinking regulations aimed at fostering innovation.

The onboarding of KDAC, Korea’s largest crypto custodian, indicates a broader institutional shift towards decentralized technologies in the Asian market. As more institutional players recognize the value of blockchain and Web3, Injective continues to lead efforts in bridging traditional industries with decentralized finance applications.

KDAC’s participation is expected to bring institutional-grade security and performance to the Injective network, making it an attractive platform for developers and users in the growing decentralized ecosystem, particularly in Korea and the broader Asian markets.

Why This Matters: Impact, Industry Trends & Expert Insights

Korea Digital Asset Custody (KDAC) has joined Injective as a new validator, marking a significant step in the integration of traditional finance with blockchain technology in Korea.

A recent Korea Herald report highlights the trend of partnerships between local banks and crypto firms to establish virtual asset custody services in Korea. This aligns with KDAC’s move to support Injective, reflecting the growing institutional interest in blockchain technology within the region. Korea Herald

According to CoinCodex, experts view Injective as having significant growth potential despite mixed market signals. This supports the notion that KDAC’s involvement could enhance Injective’s market presence and appeal to institutional investors, particularly in the Asian markets. CoinCodex

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