Open Asset Secures KRW 2.3 Billion for Token Asset Technology Development
South Korea’s fintech company, Open Asset, specializing in token assets, has raised a seed investment of KRW 2.3 billion. Hana Ventures, Korea Investment Partners, and Mashup Ventures participated in this investment round.
Open Asset is renowned for its robust blockchain core technology. The company’s key personnel, including CEO Kim Kyung-up, have amassed extensive practical experience in the blockchain industry through their work with domestic blockchain platforms and financial institutions. Their notable contributions include involvement in the development of Kakao’s public blockchain platform ‘Klaytn‘, the digital wallet ‘Klip’, and projects related to the construction of the Central Bank Digital Currency (CBDC) for the Bank of Korea.
Open Asset is crafting solutions to enable financial institutions to adopt blockchain technology easily and efficiently and to trade token assets. The company was involved in the token securities issuance infrastructure project for ‘Korea Investment ST Friends,’ a consortium initiated by KOREA INVESTMENT & SECURITIES, completed last September. Open Asset was responsible for developing the distributed ledger system and token security smart contracts, successfully establishing the industry’s first token security issuance infrastructure integrated with a financial company’s legacy system.
The new investors in this funding round have highly valued Open Asset’s successful projects with the Bank of Korea’s CBDC and Korea Investment & Securities’ token securities, among other legacy financial systems. Kim Min-kyu, Executive Director of Korea Investment Partners, and Jeong Jae-won, Auditor of Mashup Ventures, have expressed their expectations that “Open Asset will evolve into a crucial blockchain technology infrastructure provider for financial services, akin to Koscom, and will dismantle the boundaries between Web2 and Web3.”
Jeong Su-yeon, Auditor at Hana Ventures, remarked, “Open Asset is a team endowed with leading-edge experience and capabilities in bridging traditional financial institutions with blockchain technology,” and added, “We anticipate numerous collaborative opportunities with Hana Financial Group, including in token securities and private digital currencies.”
CEO Kim Kyung-up of Open Asset shared, “Our team aims to drive technological innovation within the traditional finance sector for future token assets such as CBDCs, token securities, and private digital currencies, leveraging our blockchain technology expertise.” Open Asset plans to use this investment funding for the recruitment of outstanding talents in various fields such as business development/sales, service planning, front-end development, etc.
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