South Korean Web3 research firm Four Pillars has raised fresh funding from global crypto venture capital firms Pantera Capital and Further Ventures. The company said the investment will serve as a springboard for a broader business expansion.

Chief Executive Officer Kim Nam-woong said at a press conference on April 27 at Episode Gangnam 262 in Seoul’s Seocho district that Four Pillars had secured a Series A round from Pantera Capital and Further Ventures. The company did not disclose the size of the investment. The round valued Four Pillars at 30 billion won ($20.9 million).

Kim said the fundraising validated the company’s expansion potential in the eyes of global institutional investors. He described the Series A round as more than a capital raise, saying it reflected the scalability built on data-driven trust the company has accumulated in global markets over the past three years. Founded in 2023, Four Pillars has partnered with more than 100 global blockchain projects and published more than 600 research reports.

Pantera Capital, which led the investment, cited balance as a core reason for Four Pillars’ growth potential. A Pantera representative said the company has four co-founders whose expertise in research, technology, strategy and operations creates a well-balanced team. The technology infrastructure Four Pillars is building on the back of its research capabilities will be a key driver of on-chain ecosystem expansion, the representative added.

Four Pillars said it will use the investment to expand its business. Kim framed the company’s next phase around a new identity as a Web3 solutions company. Research was not the end goal, he said, but a way to prove the firm’s capabilities. Four Pillars is now moving into what he called “Chapter 2,” focused on creating tangible value through institutional seminars, validator infrastructure and product development.

The company also plans to strengthen services for institutions in step with the formalization of tokenized securities, or STOs, and won-denominated stablecoins in South Korea. Four Pillars said validator services for staking institutional assets will become a key pillar of its business. Bok Jin-sol, research lead at Four Pillars, said the institutional staking industry would expand quickly once South Korea formalizes its digital-asset framework. There are currently few domestic providers capable of handling large-scale institutional staking demand, he said.

The company’s future collaboration with Pantera Capital is also in focus. Franklin Bi, a general partner at Pantera Capital, attended the event and said South Korea is one of the world’s most important blockchain markets. Pantera aims to work with local partners such as Four Pillars to serve as a gateway linking South Korea with global markets, he said.

Pantera also reiterated the importance of the South Korean market at the event. Bi said the country has a consumer base that is deeply curious about where the future is headed and open to new ideas. He said that helps explain why South Korea has consistently been an early adopter of new technologies. Innovation shown in the US by firms such as BlackRock and Franklin Templeton will also emerge in South Korea, he added. Within five years, South Korea could build one of the world’s most important on-chain financial infrastructures.

Lee Jun-hyung, Jin Wook, Bloomingbit reporters gilson@bloomingbit.io