Toss Securities Launches 'Stock Gifting' Service

[Asia Economy Reporter Minji Lee] Toss Securities announced on the 15th that it will launch a new service called ‘Stock Gifting.’ The Stock Gifting service allows users to gift stocks they own to other people.

This service from Toss Securities expands on the purpose of the previous two ‘Receive 1 Share of Stock as a Gift’ events by extending the experience among investors. The ‘Receive 1 Share of Stock as a Gift’ event gave one share of stock to customers who opened new accounts, providing them with the experience of becoming actual shareholders. At that time, more than 2 million customers participated, receiving explosive responses from beginner investors.

The Stock Gifting service can be accessed through the ‘Stocks’ menu within the Toss app. The person gifting the stock only needs to enter the recipient’s contact information and real name to send the stock. Even without knowing the recipient’s account details, gifting stocks is simple and convenient.

The recipient receives a notification of the gift and can either accept or reject it. If accepted, the stocks are deposited into the recipient’s Toss Securities account. Stocks can only be received through a Toss Securities account, so those without an account can open one. If the gift is rejected, the stock transfer transaction is automatically canceled.

The stocks that can be gifted are limited to those owned by the sender. Depending on the stocks and quantities held, the sender can gift as many shares as they wish.

A Toss Securities representative said, “This service broadens the scope from investing for oneself to investing together,” adding, “It will be a meaningful gift for the millennial generation in their 20s and 30s who have not yet started investing or who need more active investment.”

Meanwhile, Toss Securities plans to introduce a gift tax reporting service related to the Stock Gifting service in the third quarter. This aims to resolve gift tax issues that may arise during the process of giving and receiving stock gifts, providing a higher level of user experience.