Galaxia Money Tree announced on the 19th that it has formed a partnership with the Korea Aeronautics Association, Kyobo Life Insurance, Korean Air Services, and VMIC to enhance the competitiveness of its blockchain-based aircraft engine trust revenue securities transaction distribution service.
This partnership focuses on enhancing the professionalism of the project and investor protection measures. The participating companies plan to actively collaborate based on their respective professional capabilities in ▲support related to aircraft engine leasing services ▲issuance of trust and revenue securities ▲professional support regarding safekeeping and management ▲sourcing of underlying assets, among other areas related to the launch and operation of aircraft engine trust revenue securities products.
In particular, this agreement included aircraft engine management company VMIC, the Korea Aeronautics Association, and Korean Air Services as partners. A representative from Galaxia Money Tree noted that more specialized support will be possible for operational support in the aviation industry and the management of the underlying asset, which is the aircraft engine.
Shin Dong-hoon, CEO of Galaxia Money Tree, said, “We will strengthen our cooperation with partner companies to successfully issue the first aircraft engine trust revenue securities.”
Meanwhile, Galaxia Money Tree received designation as an innovative financial service in April this year for its blockchain-based aircraft engine trust revenue securities transaction distribution service. It aims to issue the securities in the first half of next year, after trusting the physical aircraft engine and issuing the trust revenue securities through electronic registration.