<p>South Korean entertainment production company Blade Entertainment has signed a memorandum of understanding (MOU) with Cardo, a firm specializing in custodial services for digital assets, to start a tokenized securities business, according to local news outlet <a href="https://www.newspim.com/news/view/20231227000045" rel="noopener noreferrer nofollow">Newspim</a> on Wednesday. Blade Entertainment revealed plans to leverage its IP and content distribution rights to issue fractional investment-based tokenized securities based on underlying assets like waste landfills, electroceuticals and digital therapeutics.</p><h2 id="header-0">Forging the future to tokenized securities</h2><p>“We will do our best to become a leader in tokenized securities by securing various underlying assets and building technology to facilitate valuation modeling for those assets,” said Choi Young-in, head of the STO (security token offering) department at Blade Entertainment. “Through this agreement, we will cooperate in multiple ways with Cardo, who has expertise in blockchain and an understanding of financial products, to list our tokenized securities on the Korea Exchange’s (KRX) new securities market.”</p><p>This market refers to an on-exchange market for new securities based on fractional investments that was recently designated by the South Korean Financial Services Commission (FSC) as a service under the financial regulatory sandbox system, according to a <a href="https://www.fsc.go.kr/no010101/81243" rel="noopener noreferrer nofollow">press release</a> on Dec. 13. The regulatory sandbox is a system run by the Korean government that exempts or suspends existing regulations for a designated amount of time for companies releasing new products and services and regulates them post-mortem if there is a problem.</p><h2 id="header-1">Strategic collaboration</h2><p>Blade Entertainment said that it sought out Cardo — whose investors include one of South Korea’s major banks Nonghyup Bank — as a business partner to carry out this endeavor due to its accumulated knowledge and expertise in the blockchain sector. Cardo has also previously demonstrated its capabilities in the security token business by providing fintech solutions to financial service firm Galaxia Moneytree.</p><p>“Currently, due to issues with the valuation of token securities, it is not easy for businesses in this area to operate smoothly, but we plan to issue and distribute tokenized securities of various assets soon,” said Sohn Kyung-hwan, CEO of Cardo. “Based on the know-how we’ve accumulated from the two contracts we signed this year agreeing to supply security tokens platforms, we will actively help Blade Entertainment with the planning, design and platform construction of their security token venture to help establish a successful service.”</p>

Blade Entertainment partners with Cardo to venture into tokenized securities industry

Table of Contents

CoinNess Global

Other articles published on Dec 27, 2023

The Price Of Metis Surges 50% In The Past 24 Hours

Expectations for WLD Coin and the Future of Worldcoin

MATIC climbs back to $1: Is it the Inscriptions effect?

Crypto Hedge Funds Set for Strong Recovery and Optimistic 2024

Why is crypto down today?

Hong Kong offers crypto ETF promise despite focus on U.S. approval

Join our free newsletter for daily crypto updates!