Shinhan Investment & Securities said on the 19th that it signed a memorandum of understanding (MOU) for cooperation in the issuance and distribution of fractional investments with NEXTRADE (NXT) and seven major fractional-investment companies, in step with the NXT consortium's preliminary approval to establish an over-the-counter exchange for fractional investments.
The agreement was pursued to build a value chain spanning issuance, distribution, and settlement among key participants in the fractional-investment market to be launched, and to create a productive financial ecosystem that supplies funding to innovation corporations based on real assets.
A total of nine companies joined the agreement, including NEXTRADE (NXT); ▲ Musicow (music copyrights) ▲ A Panda Partners (loan receivables) ▲ Stockeeper (premium Korean beef, known as hanwoo) ▲ GalaxiaMoneytree (aircraft engines) ▲ Seoul Auction Blue (artworks) ▲ Sejong DX (real estate) ▲ TogetherArt (artworks). Through this agreement, the participants plan to continue comprehensive cooperation, including joint reviews of business models, joint responses to legal and institutional changes, and joint promotion to invigorate the fractional-investment market.
Through this MOU, Shinhan Investment & Securities will serve as core infrastructure for the distribution platform, including managing investor accounts and providing a distributed ledger for a future transition to security token offerings (STOs).
A Shinhan Investment & Securities digital asset division official said, "As a promoter and major shareholder of the over-the-counter exchange, we will contribute to building a digital asset ecosystem that connects issuance to distribution."