Hanwha invests $13 million in blockchain infrastructure company Kresus Labs

According to CoinDesk, South Korea's Hanwha Investment & Securities has invested approximately $13 million (KRW 1.8 billion) in the U.S. blockchain infrastructure company Kresus Labs to advance its enterprise-grade digital wallet technology and real-world asset (RWA) tokenization platform.

The funding stems from a memorandum of understanding signed last December during Abu Dhabi Finance Week, aimed at expanding Kresus's on-chain financial workflows. Kresus focuses on developing digital asset tools for consumers and institutions, including "seedless" wallet recovery technology (which does not require traditional 12-24 word seed phrases) and a security system based on multi-party computation (MPC), as well as wallet infrastructure and tokenization platforms that meet institutional standards.

Hanwha plans to leverage this technology to enhance its digital asset services and develop tokenized traditional financial products, highlighting institutional interest in blockchain infrastructure despite the volatility in the crypto market.