Hana Securities announced on the 30th that it has signed a memorandum of understanding (MOU) with Bycellstandard for the issuance and market activation of token securities (STO) based digital asset management platform 'Piece' (PIECE).
Through this agreement, the two companies plan to establish strategic cooperation regarding the commercialization of the STO and the planning and operation of products, and will strengthen cooperation in various areas such as the review and issuance of STO products.
Previously, Hana Securities completed the establishment of an integrated system that provides all services from the issuance to the circulation of token securities last October. It has been expanding its STO business by signing memorandums of understanding with multiple partners advancing STO-related businesses.
Bycellstandard is the first chair company of the Token Securities Council of the Korea Fintech Industry Association. It was recognized internationally by winning the 'Best (DeFi) Innovation Award' at the '2024 Global Retail Banking Awards' organized by The Asian Banker.
Jo Dae-hun, Deputy Minister of Hana Securities' Digital Business Division, said, 'This agreement is an important first step in establishing a foundation for the issuance and circulation of STO products within the regulatory framework.' He added, 'We will continue to lead the healthy growth of the STO market through various partnerships and provide trustworthy investment opportunities to investors.'
Shin Beom-jun, CEO of Bycellstandard, noted, 'By combining the expertise and capabilities of both companies, we will set a new standard for the STO industry and realize ecosystem expansion.' He stated, 'Through cooperation with Hana Securities, we will establish a systematic cooperation model for discovering new assets, developing innovative STO products, and leading the market.'