Buysell Standards, which operates the security token offerings (STOs) platform "PIECE," said on the 12th that it signed a strategic memorandum of understanding (MOU) with Hong Kong-based asset management company Hongrui Group and global payment Fintech company KUN.
The agreement was signed in Beijing during the president's state-visit economic mission to China. The agreement aims to build a "digital asset value chain" that connects asset acquisition, tokenization, and global distribution by combining Korea's real-world asset tokenization technology with real-world assets in Hong Kong and Asia and global financial infrastructure.
Buysell Standards said the agreement, together with its Singapore subsidiary (BSFX) established in Apr. last year, has created a bridgehead for entering the Asian digital asset market.
Going forward, Hongrui Group will supply real-world assets such as new energy and cultural tourism in Hong Kong and Asia, and Buysell Standards will design digital asset products with its security token offerings (STOs) technology. KUN is expected to support cross-border distribution with its global payment infrastructure.
Buysell Standards is the only multi-asset strategy company among the seven corporations that received approval for business restructuring from the Securities and Futures Commission under the Financial Services Commission. It has the technology to issue a variety of real-world assets—such as scarce physical goods, artworks, ships, and intellectual property (IP)—as security token offerings (STOs).
Hongrui Group operates a large-scale real-world asset network in Hong Kong, Malaysia and the UAE. KUN provides embedded financial infrastructure based in Hong Kong and has partnerships with global institutions such as HashKey Exchange, a Hong Kong virtual asset exchange.
Buysell Standards said, "Through KUN's integrated payment system for fiat currency and digital assets, global investors can invest in real-world asset-based digital assets with only card payments or bank transfers, without a cryptocurrency wallet," and emphasized, "This can significantly lower the barrier to entry for investment."
The three companies plan to run a pilot project in the first half of this year and hold joint roadshows for global institutional investors in Hong Kong and Singapore in the second half.
Shin Beom-jun, CEO of Buysell Standards, said, "Based on Korea's security token offerings (STOs) technology, we will build a complete ecosystem that links asset supply, tokenization and global distribution to present a new standard for the Asian digital asset market."