DeSpread to Host DATCON 2025

On September 22, 2025, a new chapter opens in the history of Korea's capital markets.

DATCON 2025 is Korea's first Digital Asset Treasury (DAT) specialized conference, serving as a meaningful starting point connecting traditional capital markets with the Web3 ecosystem.

The question "Who will be the Korean Michael Saylor?" is not merely a rhetorical expression. As companies worldwide are incorporating digital assets as a core pillar of their financial strategies, this question asks—and declares—who will be the pioneer in Korea.

DeSpread has contributed to the healthy establishment of the Web3 industry in the Korean market over the past several years. Now, as institutional infrastructure and technological progress are being made, we are swiftly building an appropriate bridge to connect capital markets with traditional finance at this crucial moment.

Certainly, there are various ways existing industry models can embrace blockchain technology to create added value. Regulatory-compliant utilization of stablecoins and tokenized securities, which are currently being actively discussed, serves as examples of such approaches.

DeSpread goes one step further, actively exploring the possibility for existing companies to acquire virtual assets through capital markets or their own business models, and fully utilize them to create mutual added value for themselves and the on-chain ecosystem.

This DATCON is the culmination of these efforts and will be the first step for Korea to join the global DAT stage in earnest.

Current State of the DAT Industry

The trend of incorporating digital assets into corporate finance has now firmly established itself in global capital markets. MicroStrategy (now Strategy) has accumulated approximately 630,000 BTC, emerging as a symbol of DAT strategy, and has demonstrated the fusion of digital assets and traditional capital markets through financial engineering such as convertible bonds and ATM issuances.

Subsequently, Japan's Metaplanet became known as "Asia's MicroStrategy" through aggressive BTC purchases and innovative funding methods, with its stock price rising dozens of times in a short period. Particularly noteworthy is its close connection with institutional infrastructure through strategic partnerships with SBI Group, one of Japan's largest financial groups. Metaplanet has established a system that enables regulatory-friendly custody and trading infrastructure through SBI VC Trade, Bitcoin management support, and even collateral-based funding, positioning itself as a new model connecting institutional finance with digital assets beyond being merely a BTC holding company.

This trend is rapidly spreading. Sharplink Gaming in the US has transformed from a sports betting company to a leading DAT public company, pioneering a multi-asset treasury model, while DeFi Development Corp demonstrates how DAT companies can contribute to on-chain infrastructure through direct validator operations and Solana liquid staking token issuance on the Solana network. Hyperion DeFi, as a DAT company exclusively enjoying the on-chain monetization infrastructure provided by the Hyperliquid ecosystem, presents the possibility of expanding asset management strategies beyond asset holding.

Galaxy Digital has established itself as the most influential analyst and investor in the DAT narrative. Galaxy Research officially defined this industry through "The Rise of Digital Asset Treasury Companies" report and quantitatively analyzed how multi-asset strategies including BTC and ETH reshape corporate value. Simultaneously, it serves as a driving force for industry expansion by supporting the growth of global DAT companies through investment and advisory services.

Animoca Brands not only defined this model as an independent financial sector through research series analyzing the DAT industry but also simultaneously develops theory and execution by pursuing BTC treasury management of up to $100 million through partnerships with DDC Enterprise at the corporate level. IVC defines its role as "a bridge connecting Web3 native innovators with institutional capital" and actively invests in the rapid growth trend of the DAT industry. Global venture capital Sora Ventures also plays an important role in expanding the Asian DAT ecosystem based on its expertise in initially designing Metaplanet, and in Korea, led the investment round for SGA (now BitPlanet), catalyzing the emergence of Korea's first DAT company.

The signal flares pointing toward future direction will be fired by companies and projects leading the "on-chain monetization" paradigm. Gauntlet boldly uses the slogan "Institutional Grade Vault" for their on-chain operations, backed by seven years of accumulated DeFi risk management expertise in the EVM ecosystem. Fragmetric showcases yield generation strategies on Solana, implementing a multi-revenue stream structure that simultaneously layers MEV rewards and restaking fees on top of traditional staking yields. MEV Capital operates on a cross-chain architecture spanning BTC-ETH-SOL, generating consistent returns while eliminating directional risk and providing tailored on-chain asset management solutions for institutional capital. These companies present practical methodologies that enable DAT companies to build sustainable financial structures beyond simple asset holding strategies. This will become the core competency of second-generation DATs, clearly demonstrating that the industry's evolution is expanding from asset holding → asset management → on-chain yield generation.

In the Korean market, the foundation for the DAT industry is gradually being established. HappyBlock serves as Korea's crypto prime brokerage, providing essential infrastructure for companies to effectively trade and manage digital assets. Legal review specialists like Outlaw, covering both global and domestic markets, are emerging as market participants to support DAT operations suitable for Korea's regulatory environment, providing professional advisory services for companies to operate digital asset businesses legally and transparently. Additionally, KODA provides regulatory-friendly custody services with support from institutional financial sectors, taking responsibility for the security and governance of strategic assets required by DAT companies. This trend shows that the institutional foundation necessary for Korean DAT models to connect with global markets is gradually being established.

As we can see, the spark that started with MicroStrategy is positioning itself as a new axis of global financial innovation where countless stakeholders and experts converge beyond a single strategy.

Current Status and Challenges of the Korean Market

In the Korean market, the DAT industry is still in its nascent stage and represents a land of opportunity. However, establishment alone cannot guarantee success.

The literacy level regarding Digital Asset Treasury (DAT) strategies in Korea is already quite high. For example, the National Pension Service, Korea's largest asset management company, purchased approximately $33.74 million worth of US Strategy (MSTR) stocks in Q2 2024, demonstrating this keen interest through participation in the DAT industry.

Changes are also emerging in the retail market. SBET and BMNR have occupied the top ranks for extended periods, surpassing Tesla, Palantir, and Microsoft, which consistently ranked among the top overseas stock net purchases. This indicates that DAT strategy is not a special domain but a market that many participants already understand to some extent, which is Korea's strength.

However, compared to leading DAT markets like the US and Japan, related regulations in Korea are still ambiguous or nearly non-existent, which could lead to unpredictable variables. Therefore, discussions should be actively conducted not only on stablecoins and STOs but also on listed companies freely holding and utilizing cash assets as digital assets.

What is needed at this point is sophisticated execution capability and strategic communication as follows:

Clear Business Roadmap and Plan Rather than simply saying "we're going with a DAT system," detailed presentation of what strategy to start with and what stages to expand to is necessary.
Coordination of Market Stakeholders Beyond representative investors like the National Pension Service, various axes including custody providers, financial institutions, and policy/regulatory advisors must be led in one direction.
Building Trust and Securing Legitimate Operating Paths Transparency and legitimacy are particularly important in the early stages. Trust must be given to legacy financial markets, and a "convincing model that can create long-term multiples" must be presented.

Ultimately, Korea already possesses great potential for DAT strategies. What is needed now is the capability to execute these precisely and communicate strategically. With such efforts backed up, Korean DAT models can establish themselves as trust-based long-term growth models beyond mere topics of discussion.

DATCON 2025 — Event Introduction

DATCON 2025 is Korea's first Digital Asset Treasury (DAT) specialized conference.

This event is not merely an event but will be a historic stage that connects traditional capital markets with digital asset markets in one place for the first time.

Date: September 22, 2025 (Monday) | 1:00 PM–7:00 PM
Venue: Gavin Art Hall (534 Samsung-ro, Gangnam-gu, Seoul)
Target Participants: Domestic and international financial institution professionals, Web3 project entrepreneurs, global venture capitalists, media experts
Expected Attendance: Approximately 150 people

The event's slogan is itself a question: "Who is the Korean Michael Saylor?"

This is not a simple rhetorical expression but a timely question asking who will be the pioneer leading the DAT industry in Korea, and simultaneously a message declaring the arrival of a new paradigm.

The purpose of DATCON 2025 is clear:

Direct Connection Between Global DAT Players and Korean Capital Markets – Inviting overseas DAT companies, venture capitals, and analytical institutions to Korea to bring global networks together in one place.
Industry Definition and Vision Presentation – Examining the present and future of the DAT industry and discussing strategies and institutional directions necessary for Korean capital markets.
Exploration of Korean DAT Models – Exploring feasible Korean DAT strategies by combining global success cases with Korea's institutional and market realities.

DATCON 2025 is not simply a venue to introduce a new industry. This venue is the first point where Korean capital markets and the Web3 ecosystem meet in earnest, and it will be the starting point for discussions and challenges that will continue for years to come.

Detailed information about the event schedule, speaker information, and registration methods can be found at the link below.

Speaking Partners Introduction

Sharplink Gaming (NASDAQ: SBET) is the first NASDAQ-listed company in the US to adopt Ethereum (ETH) as a core financial strategy asset. As of August 2025, it holds approximately 800,000 ETH worth about $3.6 billion, representing 0.6% of total ETH supply. Joseph Lubin, Ethereum founder, serves as chairman, and the company has become a representative case of the DAT model by transitioning from existing online gaming and sports betting businesses to ETH-centered digital asset strategy. It generates revenue by staking all held ETH.

DeFi Development Corp (NASDAQ: DFDV) is the first US public company to build a digital asset strategy centered on Solana (SOL). As of September 2025, it holds over 2 million SOL worth approximately $412 million. Through partnership with AllDomains, it launched .dfdv domains and is also building digital identity infrastructure within the Solana ecosystem. Beyond simple asset holding, it leads next-generation DAT models through proprietary validator operations and on-chain revenue generation strategies.

Hyperion DeFi (NASDAQ: HYPD) is the first US public company to completely transition from an existing ophthalmology technology company to a digital asset strategy centered on HYPE tokens. As of September 2025, it holds over 1.5 million HYPE tokens and has built strategic financial strategies for Hyperliquid protocol's native tokens. It generates staking revenue through joint validator operations with Kinetiq and is expanding its cryptocurrency financial strategy after successfully completing $50 million in private investment.

SBI VC Trade is a cryptocurrency exchange subsidiary of SBI Holdings, one of Japan's largest financial groups, and the first company to provide USDC stablecoin services in Japan. It is the only company in Japan to hold all three operating licenses: cryptocurrency exchange business license, financial instruments business type 1 license, and electronic payment instrument trading business license. Through strategic partnership with Circle, it leads USDC adoption in Japan and serves as Japan's cryptocurrency hub through various crypto services including international remittances.

Galaxy Digital (NASDAQ/TSX: GLXY) is a global leader in digital assets and data center infrastructure founded by Michael Novogratz. It operates various businesses including asset management, trading, investment banking, staking, and mining, managing approximately $7 billion in assets. It successfully raised $175 million for its venture fund through Galaxy Ventures Fund I and leads industry expansion as the most influential analyst and investor in the DAT industry.

Animoca Brands is a historic OG venture capital fund based in Hong Kong, established by Yat Siu in 2014, currently valued at $2.1 billion. Recently focusing on the tokenized real-world assets (RWA) market, it plans to launch NUVA, an RWA vault marketplace co-developed through partnership with Provenance Blockchain Labs, in Q4 2025. It published research targeting the $40 trillion traditional finance market in the tokenized RWA market expected to grow to $30 trillion by 2030. In the DAT industry sector, it serves as a major research institution responsible for industry definition and analysis while contributing to corporate Bitcoin treasury management development through a $100 million Bitcoin partnership with DDC Enterprise.

Sora Ventures is a digital asset-backed venture capital fund specializing in blockchain and digital asset investments, primarily operating in Asian markets. It announced the launch of Asia's first $1 billion Bitcoin treasury fund at Taipei Blockchain Week 2025, having already secured $200 million in initial commitments. It is replicating and expanding the Bitcoin treasury model across Asia by acquiring Japan's Metaplanet, Hong Kong's Moon Inc., Thailand's DV8, and Korea's BitPlanet. It aims to integrate Asia's distributed Bitcoin treasury efforts to gain competitiveness on the global stage.

Infinity Ventures Crypto (IVC) is a group of investors and entrepreneurs helping to define next-generation blockchain startups. Focusing on passionate founders, disruptive models, borderless markets, and exponential effects, it supports businesses expanding from Asia to the world. It deeply engages in the innovation, development, operations, and market needs of portfolio companies, supporting them to influence and transform target ecosystems. It positions itself as a bridge connecting Web3 native innovators with institutional capital and actively invests in the rapid growth of the DAT industry.

MEV Capital is a digital asset manager specialized in generating consistent returns in emerging DeFi markets. Through strategies with stable asset exposure and clear benchmarks, it primarily focuses on risk management and liquidity provision across selected public protocols. It provides comprehensive solutions enabling institutions to gain exposure to DeFi yield strategies through regulated digital asset fund structures. It serves as a pioneer in on-chain monetization strategies that enable DAT companies to build sustainable financial structures beyond simple asset holding.

Gauntlet is a leading quantitative research and risk management platform for major DeFi protocols, monitoring over $42 billion and recording over $1.4 billion TVL as of September 2025. Using sophisticated financial modeling techniques derived from algorithmic trading, it helps protocols optimize parameters, manage risks, and improve capital efficiency. It recently launched the Gauntlet USD Alpha (gtUSDa) vault providing institutional-grade stablecoin yields and has published 27 research papers advancing DeFi risk management practices.

Fragmetric is a protocol leading liquid restaking on Solana through innovative token technology and reward distribution mechanisms. It has formed a strategic partnership with DeFi Development Corp to integrate dfdvSOL into Fragmetric's restaking platform, making it one of five LSTs supported by the protocol. dfdvSOL holders can deposit tokens to receive fragSOL, gaining access to restaking rewards through Solana's Node Consensus Network ecosystem.

Korea Digital Asset (KODA) is a corporation directly invested by KB Kookmin Bank, providing digital asset custody services for institutional investors with support from Korea's largest bank. It currently supports cryptocurrencies including Bitcoin, Ethereum, and KLAY, providing regulatory compliance services such as anti-money laundering procedures and deposit/withdrawal address screening. As of 2025, it custodies approximately $6 billion (about 8 trillion won) worth of cryptocurrency assets and is strengthening compliance by upgrading AML systems ahead of Korea's Virtual Asset User Protection Act implementation.

Hyperithm is a premier digital asset manager based in Tokyo and Seoul, providing services exclusively for institutional investors and high-net-worth individuals in quantitative trading and venture investment sectors. Registered with Japan's Financial Services Agency as a qualified institutional investor special license business operator and licensed as a virtual asset service provider by Korea's Financial Intelligence Unit. It recently launched the Hyperithm USDC Vault on Morpho Labs, achieving over $100 million in assets under management within six months. Co-founded by a former Morgan Stanley investment banker and a Forbes 30 Under 30 serial entrepreneur, it is backed by renowned investors including Coinbase Ventures, Hashed, and Samsung Next.

HappyBlock is Korea's digital asset specialized brokerage company, established in May 2022 by Kim Kyu-yoon, known as a derivatives trading and digital asset expert, positioning itself as a "digital securities company." It develops and operates the 'Bowman' platform for institutional investors, supporting financial management tools by integrating exchange asset management, custody, and personal wallets. Particularly through 'Bowman Prime Service,' it provides Korea's first professional brokerage service and plans to offer OTC brokerage services for institutional investors' virtual asset orders and large-scale transactions. It received seed investment from SK Securities and has built partnerships with major global VASPs including Fireblocks and Kaiko.

Outlaw (OL Consulting) is a global blockchain corporate advisory and web3 legal consultancy firm with a strong niche in providing strategic advisory to web3, AI and gaming projects, founders and companies. With offices in Singapore, Seoul, and Dubai, and partners globally, Outlaw is well positioned to assist you as general counsel to navigate the complexities of the rapidly evolving Web3, AI and gaming landscape, balancing innovation with legal requirements

About DeSpread

DeSpread is a web3 growth studio providing data-driven strategy for global teams looking to expand into the Asian market. We set the standard to drive web3’s growth and expansion.

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