Korean banks take 30% of Infinite Block in digital-asset custody bet
What's the deal? Infinite BlockDealroom has a profile for this one. Try Dealroom →, a South Korean digital-asset custody firm, has raised an undisclosed pre-Series A round from Sh Suhyup BankDealroom has a profile for this one. Try Dealroom →, iM Bank, and HFRDealroom has a profile for this one. Try Dealroom →. The investment lifts domestic banks' combined stake in the company to roughly 30%.
What does it do? Infinite Block is a virtual asset service provider (VASP) registered with Korea's Financial Intelligence Unit. It holds 28 patents across blockchain wallets, custody, cryptographic security, and AI.
What's the endgame? The company plans to deepen work in regulated markets, including corporate digital-asset custody, stablecoin issuance and distribution, and bitcoin spot ETF custody. The strategy pairs banks' financial infrastructure with Infinite Block's enterprise custody technology to capture the institutional market.
Why now? New rules under Korea's amended anti-money-laundering law require VASPs to keep a debt ratio below 200% and meet major-shareholder conditions. The round is expected to strengthen the company's financial soundness on both counts.
In July, Infinite Block earned the top "TI-1" technology grade from Seoul Credit Rating & Information and was picked for the Ministry of SMEs and Startups' DIPS program for high-potential startups.
What they said: "The high shareholder proportion of financial institutions and our accumulated technical flexibility are what set Infinite Block apart," said chief executive officer Jeong Gu-tae, adding the firm aims to grow into "a finance-focused digital-asset infrastructure" spanning corporate custody, stablecoins, and spot ETFs. (translated from Korean)
The signal: Korea's digital-asset infrastructure market is drawing closer ties with regulated finance. In April, Fairsquare LabDealroom has a profile for this one. Try Dealroom → raised a Series B to bridge traditional finance and digital assets, while Berlin-based Midas — an early bet by Hyperithm — closed a $50 million Series A the same month.
Read more: wowtale.net
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