Koscom said on the 2nd that it signed a memorandum of understanding (MOU) with Meritz Securities to jointly pursue a token securities platform business.
With this agreement, the number of securities firms that have partnered with Koscom has expanded to eight, including Kiwoom, Daishin, IBK Investment, Yuanta, BNK, DB, and iM Securities. The build-out of capital market infrastructure based on digital assets is expected to accelerate.
Koscom said it is focusing not only on providing technology but also on working with the securities industry to establish standards for the STO market and lead the ecosystem. Earlier, after completing the issuance infrastructure in collaboration with LG CNS, it has been conducting a proof of concept (PoC) for token securities settlement using stablecoins since Jul. It plans to verify a new settlement model that connects digital assets and traditional finance through this.
Recently, it has also taken the lead in establishing order in the early market, including working with the Korea Exchange to pursue authorization for a fractional investment distribution platform. Kim Seong-deok, Koscom Deputy Minister, said, "This collaboration is a turning point for the spread of the joint token securities platform across the industry," adding, "Koscom will work with the securities industry to build stable and trustworthy infrastructure for the digital asset era and lead innovation in the capital market."
Meritz Securities has been strengthening its digital finance capabilities, including launching in Jul. an organization overseeing new digital asset businesses. Based on expertise that spans traditional finance and digital assets, it is accelerating the build-out of future financial infrastructure such as STOs.
Kang Byung-ha, an executive director at Meritz Securities, said, "This MOU is a shared commitment to a more necessary, safer, and fairer capital market," adding, "Meritz Securities' customer-centric capabilities and willingness to supply venture capital will combine with Koscom's digital infrastructure to create innovative funding tools and contribute to the advancement of the capital market."