<p>Kiwoom Securities, a securities firm based in South Korea, has recently taken a step forward by announcing its <a href="https://www.news1.kr/articles/5151158" rel="noopener noreferrer nofollow">collaboration</a> through a memorandum of understanding (MOU) with fintech company Koscom. This partnership aims to carry out a pilot program for a security token platform.</p><h2 id="header-0">Preparing for regulatory shift</h2><p>In light of the expected enactment of a revised bill that will establish a legal framework for security tokens, the two companies have joined forces to work towards creating standardized practices for security tokens. Once this regulatory act comes into effect, fractional investment companies — the entities responsible for issuing security tokens — will have the opportunity to kick-start their operations promptly. This will be possible by utilizing the systems developed by securities firms, also known as account management institutions. The primary objective of this MOU is to define the essential industry standards that will facilitate this process.</p><h2 id="header-1">Combining strengths</h2><p>While Kiwoom Securities benefits from a substantial retail customer base, Koscom brings technological expertise to the table thanks to its four-decade-long track record of constructing the data infrastructure for capital markets. Together, they will work to verify the seamless integration of distributed ledger technology into the operational system of the securities firm.</p><p>Kiwoom Securities has been making strides in this direction through its partnerships with diverse companies, including music copyright trading platform Musicow and fine arts fractional investment platform Tessa. These collaborations have provided Kiwoom Securities with practical experience and technological insights relevant to security tokens.</p><p>Hwang Hyun-soon, CEO of Kiwoom Securities, expressed Kiwoom’s commitment to collaborating to ensure that the security token platform developed by both companies evolves into a benchmark platform for the future security token market.</p><p>Hong Woo-sun, CEO of Koscom, remarked that they expect the agreement to play a role in advancing their security token businesses and developing the Korean security token market.</p>

Kiwoom Securities and Koscom Partner to Pilot Security Token Platform Amid Regulatory Changes

Table of Contents

CoinNess Global

Other articles published on Aug 28, 2023

Robinhood Emerges as Third-Largest Bitcoin Holder with a $3 Billion Stash

Crypto Bullish PEPE, LUNC dan SHIB, Berpotensi Naik Dua Kali Lipat?

Cardano Predicted to Overtake Bitcoin and Ethereum as Top Cryptocurrency – Charles Hoskinson

US Crypto Community Divided Over Biden’s New Tax Reporting Rules

Bitcoin’s Comeback: Will Alpha Coin Reach $28000 by August’s End?

BRICS: A Rising Force in the Global Economy and Beyond

Join our free newsletter for daily crypto updates!