KB Securities said on the 5th that it signed a memorandum of understanding (MOU) with the Canton Foundation and Wavebridge to build distributed-ledger-based digital asset infrastructure.
The Canton Foundation is a foundation that supports the ecosystem and governance of the Canton Network, a global distributed ledger network, and Wavebridge is a company that provides global digital asset infrastructure for corporations and institutions.
The Canton Network is an open distributed ledger infrastructure designed to digitize and trade real-world assets at scale while complying with traditional financial regulations recognized in global financial markets. Goldman Sachs, BNP Paribas S.A., HSBC, Deutsche Börse Group, Nasdaq, and the Depository Trust & Clearing Corporation (DTCC) are currently participating.
Under this agreement, KB Securities will design transaction standards for the capital market and lead adoption by financial institutions, leveraging its domestic and overseas institutional client networks and expertise in operating financial products. Wavebridge will provide payment and settlement infrastructure for digital assets, and the Canton Foundation will support development of the network ecosystem and coordination and education on governance.
KB Securities CEO Kang Jin-du said, "We will do our best to introduce standard models for STOs and virtual asset infrastructure among domestic securities firms, and we will take a leading role in establishing a trustworthy environment that connects global infrastructure and the Korean capital market."