Iotrust
3 known investors
D'CENT produces a biometric hardware wallet for managing and securely storing cryptocurrency assets, with offline key storage and fingerprint authorization for transactions.
Also known as D'CENT Β· IoTrust Co., Ltd Β· IOTRUST COMPANY LIMITED
Investors Β· 3
Also in the syndicate Β· 2
Company profile
researched Aug 2026IoTrust Co., Ltd is a Seoul, South Korea-based company established in 2017 that develops D'CENT, a cryptocurrency wallet product line. Its stated goal is to let users manage digital assets and access blockchain services. The company launched what it describes as the world's first biometric authentication cold wallet in 2018, and subsequently added a card-type wallet and a mobile app wallet.
The current product family comprises a biometric hardware wallet that stores private keys in dedicated hardware and requires fingerprint confirmation for transactions, a card-type cold wallet (DCENT S) sold with an "R3covery Kit" dual-card backup so that losing one card does not result in loss of access, and a mobile application that connects to either hardware device for portfolio management. The wallet software includes market data drawn from CoinMarketCap and CoinGecko, a dApp browser with bookmarking, an in-wallet swap routing feature and real-time scam detection. The company states support for 100 mainnets and more than 4,900 cryptocurrencies, with the ability to manually add additional tokens, and it also offers a custom branding service producing physical wallets with corporate design assets or NFT-artist collaborations.
Alongside the wallet products, IoTrust describes its business areas as digital asset protection, financial services, authentication solutions and Web3 wallet provision. It publishes educational material through D'CENT Academy and a company blog, and runs a blockchain study program (Bl.Pa.Ss).
Founding story
IoTrust was founded in 2017 with the stated aim of enabling people to manage digital assets conveniently and use blockchain services safely.
Business model
IoTrust sells hardware wallet devices (biometric and card-type) to end users and provides an accompanying free mobile application and in-wallet services such as swaps, a dApp browser and market data. It additionally offers a custom branding service that produces bespoke physical wallets for corporate clients and NFT-artist collaborations.
Sales of hardware wallet devices, complemented by a paid custom branding service for corporate and NFT-artist wallet editions.
Traction
The company reports approximately 200,000 monthly active users in 220 countries, 111 affiliate partners, cumulative investment of 10 billion Korean won, and support for 100 mainnets and over 4,900 crypto assets.
Latest developments
In 2025 the company added real-time scam detection to the D'CENT wallet (announced August 2025) and published material on its swap routing; it also launched the XRP Alliance, an in-wallet hub for XRP-ecosystem services, rewards, DeFi opportunities and partner benefits.
βΈFull profile β market position, technology, go-to-market, geography, history
Market position
IoTrust describes D'CENT as Korea's leading cryptocurrency wallet and reports around 200,000 monthly active users across 220 countries. In June 2022 it was selected as a 'Baby Unicorn' by Korea's Ministry of SMEs and Startups, chosen from 248 small and medium-sized enterprises at a 4.7-to-1 competition ratio.
Fingerprint-based authentication on a cold-storage hardware device, positioned as the first biometrically secured cryptocurrency wallet; a dual-card recovery option on the card-type product; broad asset coverage (100 mainnets, 4,900+ cryptocurrencies); an EAL5+ Secure Element; and a stated record of no hacking incidents.
Technology
D'CENT devices generate and store private keys inside the hardware itself and keep them offline (cold storage). Transactions are initiated on the device and confirmed by fingerprint authentication. The wallets use certified EAL5+ Secure Element technology to hold sensitive information and reduce network-based threats, and rely on industry-standard cryptographic algorithms. Recovery is via a user-held recovery phrase; the card-type product adds a dual-card backup scheme.
Go-to-market
Direct sales of devices through the company's website supported by product education content (D'CENT Academy, blog), customer reviews, and partnerships with blockchain protocols and ecosystem projects such as 1inch, Polygon and Avalanche; the company reports 111 affiliate partners and runs an XRP Alliance program aggregating XRP-ecosystem services and partner benefits within the wallet.
Retail holders of cryptocurrency and NFTs, including newcomers to crypto and users switching from other hardware wallets, plus corporate and NFT-artist partners for custom-branded devices.
Geography
Headquartered in Seoul, South Korea, with the wallet service reported as available and used in 220 countries.
History
Established in 2017 in Seoul with a focus on digital asset management and blockchain access. In 2018 it launched the D'CENT biometric authentication cold wallet, later adding card-type wallets and a mobile app wallet that provide in-wallet access to DeFi, NFT, gaming and metaverse dApps. It raised USD 4.62 million in December 2021 from returning investors, and in June 2022 was designated a Baby Unicorn by the Ministry of SMEs and Startups.
Compiled by commissioned research from 3 cited public sources β announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed β not independently audited.
Timeline Β· 4
launches, deals, and filingsThe company announced that real-time scam detection is built into the D'CENT wallet.
IoTrust was selected as a Baby Unicorn by Korea's Ministry of SMEs and Startups, chosen at a competition ratio of 4.7 to 1 among 248 small and medium-sized enterprises, and recognized for its security technology and business model.
Venture funding from returning investors K-Run Ventures, KB Investment, KDB Capital, L&S Venture Capital and SL Investment.
$4.6M source β
IoTrust launched D'CENT, described by the company as the world's first biometric authentication cold wallet.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
βΈResearch sources Β· 3
primary sources listed
- Iotrustiotrust.kr Β· web
3 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Iotrust do?
- IoTrust is a South Korean company that makes D'CENT, a biometric hardware wallet for storing and managing crypto assets.
- Who are Iotrust's investors?
- Iotrust's investors include Kiwoom Investment.