Korea Exchange's subsidiary KOSCOM announced on the 18th that it will review whether it can utilize a stablecoin-based token securities (STO) settlement system in the domestic capital market.
Specifically, it plans to validate the structure of utilizing stablecoins as a payment method in the subscription and distribution process of token securities. KOSCOM noted that this validation is a key task to proactively prepare the capital market settlement infrastructure for the digital asset era.
It intends to confirm whether a stable and reliable settlement system based on digital currency can be implemented in the capital market through a method called 'Atomic Settlement,' where settlement and clearing occur simultaneously.
KOSCOM decided to conduct technical concept validation by the end of the year to verify the technical feasibility of a stablecoin-based settlement system. Based on the results of the validation, it plans to devise infrastructure development solutions necessary for the digital transformation of the capital market.
Kim Seong-deok, head of KOSCOM's digital business division, said, "It is meaningful to establish a technical foundation that allows digital assets and traditional finance to converge safely and organically," and described it as "a strategic attempt to pre-design and prepare the capital market infrastructure in anticipation of future stablecoin adoption."