Buysell Standards said on the 11th it secured a total of 4 billion won in series A funding from investors including KOSDAQ-listed Xperix Group and S&S Investment. With this investment, Xperix Group will join as a key strategic shareholder of Buysell Standards.
Buysell Standards operates the security token offerings (STOs) platform "PIECE" and is participating as an issuer in the KDX Consortium led by the Korea Exchange (KRX). Buysell Standards is currently conducting its series A round and aims to close within the first half.
Buysell Standards said the institutionalization of security token offerings (STOs) underpinned this investment. On Jan. 1, the National Assembly passed amendments to the Financial Investment Services and Capital Markets Act and the Electronic Securities Act, and last month the Financial Services Commission approved the preliminary authorization for a fractional investment over-the-counter exchange.
The investment presumes specific business collaboration along with financial participation. Buysell Standards plans to begin work to productize as security token offerings (STOs) the global patent portfolio in communications, semiconductors and software held by Intellectual Discovery, an Xperix affiliate.
Shin Beom-jun, CEO of Buysell Standards, said, "With the legalization of security token offerings (STOs) and the distribution infrastructure in place, this year will be when products are tested in the market," adding, "We will swiftly make concrete products across diverse asset classes, including patent IP, content and corporate finance, and accelerate the build-out of global distribution infrastructure."