Koscom to Launch 'STO Joint Platform' Development

KOSCOM announced on the 5th that it will build a joint platform for securities firms to support the token securities (ST) market, which is gaining attention as a new growth area in the securities industry. This is to provide a platform for securities firms interested in the ST business but burdened by the cost of building their own platforms.

KOSCOM held a 'KOSCOM ST Briefing Session' at its headquarters in Yeongdeungpo-gu, Seoul, the day before, where it disclosed this plan. A total of 25 securities firm representatives attended the briefing.

On the 4th, at the 'Token Securities Briefing' held at the Koscom headquarters in Yeongdeungpo-gu, Seoul, Kim Seonghwan, Executive Director of Koscom Digital Business Division, is speaking. (Photo by Koscom)

Dr. Kim Gap-rae from the Korea Capital Market Institute explained the Financial Services Commission's 'ST Guidelines' and the expected benefits of their introduction. Following this, Kim Wan-seong, head of KOSCOM's Future Business Division, introduced related support measures, including the construction of a 'joint ST issuance and distribution platform' for securities firms to enter the STO market.

Recently, discussions related to STO have been actively conducted mainly among large securities firms, but small and medium-sized securities firms inevitably face the burden of initial investment costs. Accordingly, KOSCOM plans to support them by building a joint platform in cooperation with LG CNS.

Kim Seong-hwan, Executive Director of KOSCOM's Digital Business Division, said, "KOSCOM is a capital market IT company that has been preparing blockchain business for seven years, possessing both capital market experience and blockchain technology. We will spare no infrastructural support so that securities firms can derive benefits at minimal cost in the early token securities market and focus on developing competitive products."