Privacy-focused Miden (MIDEN) and Korea Digital Asset (KODA) are collaborating to build cryptocurrency infrastructure for institutional adoption. The partnership aims to provide privacy-preserving infrastructure for the adoption of regulated digital assets in Korea. This comes in response to regulatory progress in Korea that includes expanded rules for corporate crypto accounts and other institutional use cases. Financial institutions are likely to return to Korea’s crypto market, and Miden, a privacy-focused blockchain project, is taking a proactive stance.
Miden is a blockchain infrastructure company focused on privacy-preserving financial applications. “Miden is built on the blockchain for institutions that prioritize privacy.” Korea already has a strong cryptocurrency culture, and with FSC’s new regulations, institutional participation is expected to rise, presenting a huge opportunity, according to Miden co-founder Azim Khan in an email. The two parties said they would combine KODA’s custody platform and regulatory know-how with Miden’s privacy-preserving blockchain technology, designed to support compliant financial applications, the companies said.
This partnership comes as Korea’s major financial institutions look to return to digital assets, as indicated by the country’s top regulatory authorities. KODA was founded by KB Kookmin Bank and Hashed, a blockchain investment firm. Miden announced in a Tuesday press release that it had signed a strategic memorandum of understanding with Korea Digital Asset (KODA), the country’s largest institutional digital asset custodian, to collaborate on infrastructure and standards for the introduction of regulated digital assets in the market.
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