HAECHI LABS

HAECHI LABS, a Web3 infrastructure provider headquartered in Seoul, South Korea, was co-founded in 2018 by individuals including Jason Kim (CEO), Geon-gi Moon (Co-CEO), and Matthew Minseok Kim (COO). A significant portion of the founding team originated from the Seoul National University blockchain research group, Decipher, where they explored the potential of blockchain technology and smart contracts. Their research into the security vulnerabilities and developmental complexities of decentralized applications (DApps) laid the groundwork for the company's initial focus.

The company's primary business involves providing a suite of blockchain development and security solutions. It initially gained recognition for its smart contract auditing service, now known as KALOS, which analyzes blockchain code for security flaws and ensures proper functionality for clients like Samsung, LG, and Kakao's Klaytn. HAECHI LABS generates revenue by offering these specialized services to enterprise clients, which include major gaming companies, financial institutions, and global mainnets such as Polygon, Solana, and BNB Chain. The firm has facilitated over $50 billion in transactions for its partners.

A key product in their portfolio is the 'Face Wallet', an in-app, single sign-on (SSO) wallet designed to simplify the Web3 user experience. This non-custodial wallet eliminates the need for users to manage complex seed phrases by enabling wallet creation through social media accounts and transaction authorization via a 6-digit PIN, with account recovery available through SMS OTP. This approach is tailored for Web3 game companies and other DApp developers seeking to lower the entry barrier for mainstream users. The company's business model is centered on providing these infrastructure tools, including enterprise-grade treasury management and trading solutions, allowing developers to concentrate on their core business logic.

HAECHI LABS has achieved several significant milestones, including being the first blockchain company selected for the Samsung Electronics Startup Incubation Program and receiving a technology grant from the Ethereum Foundation. In October 2022, the company secured a KRW 12 billion (approximately $8.45M) Series A funding round with participation from investors like SpringCamp, WeMade Entertainment, N Partners, and Base Investments, which valued the company at over KRW 200 billion. This funding is intended to fuel the global expansion of its Face Wallet and other Web3 services.

Keywords: Web3 infrastructure, smart contract audit, blockchain security, crypto wallet SDK, digital asset custody, Face Wallet, KALOS, non-custodial wallet, single sign-on wallet, enterprise blockchain solutions, DApp development tools, treasury management, Polygon, Solana, BNB Chain, Geon-gi Moon, Jason Kim, Matthew Minseok Kim, Decipher, Web3 gaming