KODA Doubles Custody Insurance to $40M as Korea Opens Corporate Crypto

That gap is becoming more consequential as South Korea moves toward broader corporate participation. Authorities have been gradually advancing measures to allow corporate trading accounts, while policy discussions around a proposed Digital Asset Basic Act continue. As those initiatives progress, demand from investment firms and asset managers for professional custody could expand.

"When institutional clients select a custody provider, the first thing they look at is the insurance coverage limit and scope," said Jinseok Cho, CEO of KODA. He added that the higher limit is intended to bring client asset protection closer to the standards of traditional finance and to prepare the company for a potential influx of institutional capital as the corporate market opens further.

A representative from KB Insurance said the partnership reflects the market's push for higher coverage levels and the insurer's ability to underwrite risk in digital assets. The representative added that as digital assets become more deeply integrated into regulated finance, the role of the insurance industry is likely to expand.

KODA said it plans to continue increasing coverage limits in line with regulatory developments and shifts in market demand. Founded in 2020 by KB Kookmin Bank and Hashed, KODA focuses on custody services for institutional and corporate customers and has claimed more than 80% share of South Korea's digital-asset custody market. The company also raised a 10 billion won Series A round in 2025, with investors including Hanwha Investment & Securities, IBK Capital, and Kyobo Securities.