[Asia Economy Reporter Jang Hyowon] Blueberry Auction, a subsidiary of BladeEnt, announced on the 9th that it will change its name to BladeSTO and aggressively promote the issuance and business of new token securities (STO) in various fields including artworks, convertible bonds, bonds, and entertainment.
BladeSTO plans to expand its existing core business of gallery and artwork NFT projects while promoting the issuance of various token securities in line with changes in government policies. The company aims to secure a leading position in the STO market based on this.
It is also known that once the Financial Services Commission finalizes the basic requirements for STO policies, the company will register as an ‘issuer account management institution’ to promptly issue new token securities.
A company official stated, “With the full allowance of token securities issuance (STO) enabling fractional investment in real estate and artworks through blockchain technology next year, large securities firms are signing MOUs with related companies or engaging in mergers and acquisitions to enter the token securities business, increasing the value of STO-related companies. Based on our existing art NFT business and the savings bank business experience conducted by our affiliates, we are also considering the issuance and service launch of token securities specialized in ‘bonds, convertible bonds, and assets.’”
He added, “We also see the drama, film, and music production projects currently underway by our parent company BladeEnt as fields where token securities are possible. We plan to maximize the value of the STO business by encompassing artworks, assets, and entertainment.”
Utilizing STO allows small investments in various tangible assets. It is praised for its advantages such as 24-hour trading enabled by blockchain technology and being safer than most coins with unclear substance, as it is based on tangible assets.
Meanwhile, on the 5th, the Financial Services Commission announced the ‘Plan to Organize the Regulatory System for Token Securities Issuance and Distribution.’ The announcement included provisions to issue token securities such as STO under the Capital Markets Act and the Electronic Securities Act, and to establish account management institutions and over-the-counter brokerage businesses related to issuance and distribution.
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