GALAXIA

<p>Korean financial platform services provider Galaxia Moneytree <a href="https://galaxiamoneytree.irpage.co.kr/" rel="noopener noreferrer nofollow">announced</a> that it has signed a memorandum of understanding (MOU) to establish a consortium for the development of a security token offering (STO) platform that issues tokenized aviation assets — the first of its kind in the country. Shinhan Securities, Eugene Investment and Securities, VMIC Aviation, and Cirium have signed on as members.</p><p>“This consortium will be a significant step in our endeavors to become a leading entity for innovation in the field of the tokenization of aviation assets. Our agreement will promote the advancement of the Korean aviation industry and enhance global competitiveness, providing investors with new opportunities through alternative investments,” said Shin Dong-hoon, CEO of Galaxia Moneytree.</p><h2 id="header-0">Shaping the future of aviation</h2><p>The consortium aims to issue security tokens for leasing core aviation equipment such as aircraft engines, which would secure private funding and ease the burden that is imparted by leasing fees. Also, given that the most important aspect of STOs is asset valuation, the consortium has committed to issuing reliable aviation token securities to investors based on the accurate valuation of aircraft engines as determined by Cirium. Cirium is a global aviation data analytics company with 114 years of experience that provides solutions such as the valuation of aircrafts and engines, risk analytics for carbon emission reduction, and flight schedule changes.</p><p>Galaxia Moneytree said that the consortium recently applied for a financial regulatory sandbox — a <a href="https://sandbox.fintech.or.kr/financial/overview.do?lang&#61;en" rel="noopener noreferrer nofollow">program</a> introduced by the Korean government that offers special and provisional regulatory exemptions for financial services that have been recognized for their innovativeness.</p><h2 id="header-1">Partners with varying attributes</h2><p>Galaxia Moneytree will be responsible for overseeing the consortium as well as developing and operating the STO platform, which Shinhan Securities and Eugene Investment and Securities have agreed to provide funding for. The two securities firms will also provide management services for related trusts and accounts.</p><p>Meanwhile, VMIC will take over asset management for aircraft engines and contribute various insights based on its expertise in aviation finance. VMIC Aviation is a Korean startup that specializes in innovative aircraft engine technologies by leveraging its technical and financial expertise.</p><p>Discussions are also underway for cooperation with relevant government agencies such as the Ministry of Land, Infrastructure and Transport and the Korea Civil Aviation Association.</p><p>The company has been working with its partner companies and communicating with government entities to tokenize a wide range of assets, from certified emissions reductions to renewable energy and horse racing. It is also taking the initiative to position itself as an industry leader by investing in joint ventures.</p>

Galaxia Moneytree Forms Aviation Asset Tokenization Consortium

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