Financial institutions may be returning to South Korea’s crypto market and privacy-focused blockchain project Miden is trying to get ahead of the curve.

Miden has signed a strategic memorandum of understanding (MOU) with Korea Digital Asset (KODA), South Korea’s largest institutional digital-asset custodian, to collaborate on infrastructure and standards for regulated digital-asset adoption in the country, the company said in a press release Tuesday.

The partnership brings together KODA’s custody platform and regulatory experience with Miden’s privacy-preserving blockchain technology, which is designed to support compliant financial applications, the companies said.

The partnership comes as South Korean financial institutions eye a…