Korea Investment & Securities, next year 2month token securities platform to be established
Korea Investment & Securities will establish its own security token offering (STO) issuance platform next year 2month, in line with the implementation of the Token Securities Act. It has sent requests for proposals (RFPs) to major providers and aims to build an integrated issuance platform that includes bonds and money market funds (MMFs).
Korea Investment & Securities will establish its own token securities issuance platform next year 2month in preparation for the implementation of the Token Securities Act. The company said it had sent requests for proposals (RFPs) for the platform system to major providers. This preparation is in line with the implementation schedule for the act.
The deadline for submitting proposals was reportedly set for early 6month. Korea Investment & Securities sent proposals to major providers late last 5month. The company confirmed that it was pursuing the platform project.
The platform targeted by Korea Investment & Securities is an integrated issuance platform for standardized securities, including bonds and money market funds (MMFs). The integrated issuance platform is designed with the issuance of various types of standardized securities in token form in mind. The proposal is reportedly understood to include system requirements based on integrated issuance.
Korea Investment & Securities is moving forward with plans to build a platform in partnership with cryptocurrency exchange Coinone. The cooperation between the two sides is reportedly based on a division of roles related to the platform’s construction. The specific scope of cooperation is expected to be finalized during the proposal review process.
The Token Securities Act centers on allowing the tokenization of standardized securities. After the law takes effect, digital tokens may be applied to the issuance and distribution of securities. Market participants are making successive moves to build infrastructure in line with the law’s implementation.
Korea Investment & Securities is accepting proposals and conducting a business operator selection process under a plan to complete the platform’s construction before the law takes effect. The submitted proposals will be reviewed, after which the partner is expected to be finalized. The company plans to disclose the progress of the related procedures.