Domestic ST (Security Token) company Galaxia Moneytree announced on the 7th that it has signed an MOU (Memorandum of Understanding) with electric vehicle charging infrastructure specialist company 'ChargeIn' to launch a security token product.
The signing ceremony held on the 6th at Galaxia Moneytree headquarters was attended by Shin Dong-hoon, CEO of Galaxia Moneytree, Choi Young-seok, CEO of ChargeIn, and other officials. The main content of this agreement is the design of security token products based on electric vehicle charging infrastructure and the establishment of an issuance platform.
Galaxia Moneytree will be responsible for building and operating the STO (Security Token Offering) platform. ChargeIn will handle business support for the STO product launch and the construction of electric vehicle charging facilities, among other commercialization aspects. Both companies will also strive to discover additional products combining finance and electric vehicle charging infrastructure.
A Galaxia Moneytree official stated, "This agreement aims to build charging infrastructure by securing locations for electric vehicle charging stations and preparing charging facilities through security token issuance," adding, "We plan to promote the design of STO products for a wider range of underlying assets, including renewable energy and aviation finance currently underway."
ChargeIn is a company based in Daegu City that provides integrated EV (electric vehicle) services necessary for electric vehicle charging, such as building electric vehicle charging stations and operating control systems using platforms. Based on technology that combines electric vehicle charging and blockchain, it has been providing outlet-based charging platform construction and solutions.
On the 31st of last month, ChargeIn announced that it would jointly pursue the security token business with Hi Investment & Securities. Through the issuance of security tokens based on electric vehicle charging infrastructure, they plan to raise funds for building electric vehicle charging infrastructure and promote a profit-sharing business related to the operation of charging infrastructure.
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