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The Korea Security Token Offering (KSTO), a South Korea-based association dedicated to providing compliance guidelines for STO projects, announced on Monday that it signed a memorandum of understanding (MOU) with blockchain company Metalab for STO mainnet development. The news was <a href="https://www.ajunews.com/view/20240315133854101" rel="noopener noreferrer nofollow">reported</a> by local media outlet Ajunews. Through the MOU, the two institutions plan to create a blockchain platform for local blockchain companies, catering to their needs for STO issuance.The KSTO is an association aiming to provide consultation services on STO design and development and assist blockchain projects in complying with laws and regulations, contributing to building a healthy blockchain ecosystem.Meanwhile, a member of the KSTO, Metalab is a blockchain firm with expertise in developing crypto tokens and decentralized applications, or DApps. The company is reportedly participating in an STO mainnet development project led by the KSTO.<h3 id="sto-infrastructure-catering-to-korean-firms-and-investors">STO infrastructure catering to Korean firms and investors</h3>Mainnet refers to the primary blockchain network where actual crypto transactions take place, such as the Ethereum or Solana platform. Mainnets, which operate on their own based on their independent infrastructures, are highly valued in the crypto markets due to the complexity of developing such networks.This blockchain mainnet project involving Metalab will offer basic infrastructures that enable large-scale STO transactions, with plans to release features for STO issuance and management in connection with crypto wallets.An KSTO official stated that the institution aims to support companies willing to issue STOs, from both technological and legal perspectives. The person highlighted the institution’s commitment to creating an STO ecosystem tailored for Korean companies, saying that the project will create a regulation-compliant, user-friendly platform and develop it to a level where it can rival the industry’s leading players like Polymesh, a prominent security token platform.

Korea’s security token group KSTO signs MOU with blockchain developer Metalab

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