Kiwoom Securities Signs MOU with Real Estate Digital Revenue Securities Platform 'Casa'

[Asia Economy Reporter Hwang Yoon-joo] Kiwoom Securities announced on the 10th that it has signed a memorandum of understanding (MOU) with Kasa, a blockchain-based real estate digital revenue securities exchange.

Kasa operates the Kasa Exchange, which digitizes and distributes real estate revenue securities based on distributed ledger technology, and in 2019, it was designated by the Financial Services Commission as the first innovative financial service provider for a real estate digital revenue securities (DABS) exchange.

Since the first public offering of Yeoksam Londonville in November 2020, the cumulative total public offering amount has reached 26.47 billion KRW, and on April 19, 2022, the boutique hotel Lerit, which conducted a public subscription, achieved a record by selling out the total public offering amount of 2.2 billion KRW in about five minutes.

According to this MOU, both companies plan to expand the financial industry value chain by utilizing Kiwoom Securities' extensive investor network and Kasa's blockchain technology know-how through ▲ joint promotion of a distributed ledger-based real estate securitization distribution platform service business ▲ discussions on digital asset trading platforms, real estate product development, and account management ▲ discovery of collaborative projects combining finance and blockchain ▲ discovery of new business models for joint business cooperation.

Kim Hee-jae, Head of Retail Division at Kiwoom Securities, said, “Interest in digital asset platforms among individual investors is increasing,” and added, “Through this MOU, we plan to expand accessibility to commercial real estate investment and mutually cooperate in various domestic and international fields related to digital real estate revenue securities (DABS) combining finance and blockchain.”