South Korea’s Hanwha makes a $13 million bet on ‘seedless’ crypto wallets

Wallet infrastructure firm Kresus Labs has raised approximately 18 billion won ($13 million) in investment from Hanwha Investment & Securities, one of South Korea’s largest financial institutions.

The investment follows a memorandum of understanding signed in December at Abu Dhabi Finance Week and is aimed at expanding Kresus’ enterprise digital wallet infrastructure, real-world asset (RWA) tokenization platforms and onchain financial workflows.

The wallet and blockchain infrastructure firm develops digital asset tools for both consumers and institutions, including "seedless" wallet recovery technology and multi-party computation (MPC)-based security systems.

Seedless recovery refers to the means of restoring access to a digital asset stored in a wallet without having to use the traditional stream of 12-24 random words, which could prove a barrier to entry for some.

Kresus also operates wallet infrastructure and tokenization platforms designed to meet institutional compliance and operational requirements.

Hanwha plans to use Kresus’ technology to enhance its client-facing digital asset services and to develop tokenized versions of traditional financial products. For established financial firms, wallet security and compliant tokenization frameworks remain key barriers to deeper engagement with blockchain-based markets.

The raise underscores how capital continues to flow into infrastructure providers even when broader crypto markets are volatile. Rather than backing speculative tokens, institutions are increasingly targeting custody, security and tokenization layers that can plug into existing financial systems.