Koscom said on the 14th that it signed a memorandum of understanding (MOU) with Kyobo Securities to use a joint platform for security token offerings (STOs).
With this agreement, the number of securities firms participating in Koscom's joint platform expanded to nine, adding Kyobo Securities to Kiwoom Securities, Daishin Securities, IBK Securities, Yuanta Securities Korea, BNK Investment & Securities, DB Securities, iM Securities and Meritz Securities.
Koscom said that ahead of the implementation of the security token offerings (STOs) system in Feb. 2027, more securities firms are seeking to reduce infrastructure build-out expense and operating burdens through its platform.
In 2023, Koscom built an issuance platform infrastructure jointly with LG CNS and completed a testbed pilot with the Korea Securities Depository (KSD) for total volume management. In preparation for stablecoins being used for security token offerings (STOs) settlement, it also completed a proof of concept (PoC) for atomic settlement by applying stablecoins as a payment method within the issuance platform.
Recently, together with the Korea Exchange (KRX), it joined the "KDX consortium," a fractional investment distribution platform, and obtained preliminary approval, moving to build an over-the-counter platform.
Executive Vice President Kim Seong-hwan of Koscom said, "We will do our best to advance the infrastructure so the security token offerings (STOs) market can take root stably."
Meanwhile, Kyobo Securities is strengthening its digital asset business alongside this MOU. It recently created a "future strategy part" dedicated to mid- to long-term strategies in AI, digital transformation (DX) and digital assets, and reorganized its existing related units into the "digital asset Biz division," overhauling its organizational structure.
Executive Vice President Choi Won-il of Kyobo Securities said, "Security token offerings (STOs) are core infrastructure driving the digital transformation of the capital market," adding, "Building on this agreement with Koscom, we will establish practical commercialization capabilities across issuance, distribution and settlement, and position ourselves as a leading digital asset securities firm that provides customers with a new investment experience."