Korea Investment & Securities, ahead of the STO Act next year 2to build its own issuance platform
Korea Investment & Securities is pursuing the establishment of its own security token offering (STO) issuance platform ahead of the implementation of the STO Act. It has sent a request for proposals (RFP) to major providers and aims to create an integrated issuance platform covering standardized securities such as bonds and money market funds (MMFs).
Korea Investment & Securities has decided to build its own security token offering (STO) issuance platform and sent an RFP to major providers. The company said it is pursuing the platform’s development in preparation for the implementation of the token securities law next year 2 The RFP was reportedly sent at the end of 5 last month.
The platform aims to serve as an integrated issuance system covering standardized securities such as bonds and money market funds (MMFs). The related system is reportedly being designed to process the entire process, from issuance through management, in the form of digital tokens. Standardized securities are products whose trading specifications and terms have been standardized.
Korea Investment & Securities is reportedly pursuing the platform’s development in cooperation with Coinone. The scope of cooperation and contract details will be determined during the proposal review and consultation process. The company said it had conveyed detailed requirements to major providers.
The deadline for submitting proposals was reported to be in the early part of the month.6The submitted proposals are expected to undergo technical verification and business viability reviews before a supplier is selected. The selected operator and specific development schedule are expected to be disclosed later.
Ahead of the implementation of the Token Securities Act, securities firms continue to prepare their own platforms. This project is classified as an example of building issuance infrastructure on the premise that the tokenization of standardized securities will be permitted. The company said it is accelerating preparations in consideration of the timing of the law’s implementation.
Korea Investment & Securities is pursuing the platform by simultaneously conducting internal development and selecting external partners. The RFP is known to include technical requirements covering overall operations, including issuance, clearing, and custody. The company said it plans to proceed with related licenses and permits and system verification procedures in the future.