[Asia Economy Reporter Jang Hyowon] Finger is gaining strength. This is interpreted as a result of securities industry analysis expecting benefits related to Finger's STO trading platform construction following the government's approval of the issuance and distribution of token securities (STO).
As of 9:56 AM on the 8th, Finger is trading at 15,190 KRW, up 5.34% compared to the previous day.
The Financial Services Commission announced on the 3rd that, as a national agenda for digital financial innovation, it will promote the establishment of a regulatory system for the issuance and distribution of token securities to allow STOs under the Capital Markets Act. Specifically, ▲token securities will be accepted as a form of securities issuance under the Electronic Securities Act system ▲a new issuer account management institution will be established to directly register and manage token securities ▲a new over-the-counter brokerage business for investment contract securities and beneficiary certificates will be introduced.
Accordingly, financial institutions are rushing to build STO platforms. Mirae Asset Securities plans to launch an STO platform within this year. Kiwoom Securities also plans to provide services to trade STOs on the MTS Hero Moon within this year.
Finger is a specialized company in building fintech platforms such as smart banking platforms, with domestic banks and securities firms as its main customers. Recently, with the implementation of open banking and MyData, sales are expanding into public and non-financial sectors, and it is securing growth momentum by developing NFT trading platforms and blockchain solutions.
Han Jeyoon, a researcher at KB Securities, explained, “The Financial Services Commission officially announced detailed regulatory systems related to STO in February this year, and accordingly, benefits related to Finger's STO trading platform construction are expected. This is because Finger is already a company that has succeeded in developing an IP NFT trading platform using blockchain technology.”
He added, “This year, an increase in sales from Finger's existing platform business can also be expected. This is because the entry of banks into lifestyle financial platform businesses, led by Shinhan Bank's delivery app ‘Ttaenggyeoyo,’ can become full-fledged. If more banks enter platform businesses where finance can be applied, such as delivery apps, this will ultimately become a growth driver for Finger, a fintech platform collaborator.”
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