[Global Crypto Assets & Finance Conference 2021] “Custody-based business outlook”_Jinwoo Ro / CEO of Hexlant

  • Global Crypto Assets & Finance Conference 2021
  • Host: Delio, Korea Crypto Finance Association (KCFA)
  • Date: January 27th — January 29th, 14:00–16:10
  • Website: https://conf.delio.io

Session 2 : Successful Crypto Asset Investment Plan

▣ Custody-based business outlook _Jinwoo Ro / CEO of Hexlant

Hexlant CEO Jinwoo Ro said that digital assets will be incorporated into the institutional sector, and competition for quality of service will begin through the entry of various investors. Accordingly, it is necessary to establish a digital asset service infrastructure and a service framework, and it is said that it is important to establish an infrastructure in the custody industry. He presented strategies for responding to changes in the virtual asset market in the future.

DeFi service in the digital virtual asset market

“In case of lending, the De-Fi lending service can use a simple loan service through cryptocurrency collateral after going through the identity verification process, and the stablecoin is linked with the fiat currency to follow the value of the fiat currency, so it is easy. It serves as a stable asset in a transportable and volatile market.” In addition, “Decentralized Exchange (DEX) can directly trade digital assets between user wallets with smart contracts without a trusted intermediary.”

The business model of the custody business

“If the existing business model was a method of storing assets and receiving fees, operating deposit funds, and generating profits, digital asset custody services also apply the existing business model, but there is a difference in the physical method.” In particular, he commented that “there is a faster and lower cost because the financial process between the parties to the transaction is supported by smart contracts.”

The future of custodial service

He sees that the custodial service will change by incorporating DeFi into the existing financial business model and stable coins issued by financial companies. He predicted that the digital asset storage method will begin with the change in the digital asset security key generation and management method, and the digital asset storage will develop in the form of CaaS (Custody as Service).

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