SOMESING(SSX) has entered into an agreement on the SSX token custody service with KODA (Korea Digital Asset)

2 min readMay 19, 2022
  • Secure and transparent storage of undistributed SSX tokens by the KODA custody service
  • The withdrawal of the custodial SSX token will be followed by an official disclosure according to the agreement with KODA and Xangle

On 19 May 2022, SOMESING project announces that it has entered into a custody service agreement with Korea Digital Asset (KODA) for transparent virtual asset transactions and distribution management of the SOMESING token (SSX).

Through this custody agreement, the SOMESING project consigned 1.5 billion SSX tokens (about 64% of the undistributed volume) to KODA to improve transparency in third-party storage and to prevent damages that may occur to investors in advance when the SSX tokens of the foundation are withdrawn as a clear measure of investor protection.

In addition, the SOMESING project announced that 1.5 billion SSX tokens will be transferred to KODA’s custody wallet address on May 31, 2022, through the disclosure on Xangle to avoid possible confusion for investors and holders of SSX tokens.

※ About KODA

KODA is a digital asset management company established through investment by Hatch Labs, Hashed, and KB Kookmin Bank. KODA is the first cryptocurrency custodial service provider that a Korean banking company has invested in.