Sat. Nov 26th, 2022

Blockchain Wallet Hatch Labs announced that it has received about 12 billion won in Series A round. This is the first external investment attraction in four years since its establishment, and it plans to actively develop talent recruitment and global expansion strategies.

And Partners, Naver-affiliated investment company Spring Camp, Base Investment, and game company Wemade participated in the investment, and Hatch Labs is known to have been recognized for its corporate value of more than 200 billion won.

Hatch Labs is one of the few companies in the blockchain industry that has grown only by operating profit without issuing coins. It was also known as the first domestic company to receive incentives from the Ethereum Foundation and the first blockchain company selected for the Samsung Electronics startup promotion program C Lab Outside. In 2020, it attracted attention by establishing KODA, Korea’s first virtual asset trustee company, along with KB Kookmin Bank and Hashed.

Hatch Labs started as a blockchain security audit service and expanded its business area to virtual asset wallets. It provides security audit, wallet, consignment, and brokerage services to companies, and from this year, it will challenge the B2C wallet business for general users.

Face Wallet, an in-app single sign-on wallet launched by Hatch Labs this month, is a wallet that improves the difficulty of entry for ordinary users, allowing them to log in with a social account without installing a separate wallet and make it easy and safe for anyone to use with a six- In addition, it is possible to recover the account through mobile phone text authentication, so you can use the wallet without difficult concepts such as seed phrases or private keys.

“Hatch Labs, which boasts the best talent density, has grown every year by beating Crypto Winter since 2018 with its own sales without attracting investment,” said Jeon Jong-hyun, a partner at AnPartners. “Through this investment, I am confident that Hatch Labs will lead the global popularization of Web3 with the single sign-on wallet ‘Face Wallet’.

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