[Click eStock] "ITCEN, Highlighted as Korea's First Physical Metal STO Business"

On the 6th, KB Securities analyzed that ITCEN is expected to highlight the value of the country's first real metal-based token securities (STO) business.

ITCEN, as the STO platform operator for Hana Bank and Hana Securities, has applied for designation as an STO regulatory sandbox based on real trust beneficiary certificates such as gold and raw materials. Its subsidiary, 'Sengold,' is a digital platform service that allows fractional investment in expensive precious metals in units of 1/100g. Since its launch in March 2020, it has continued to grow, recording 1 million cumulative users and a cumulative transaction amount of 800 billion KRW.

KB Securities researcher Sang-guk Lim stated in a report on the same day, "ITCEN is expected to rapidly expand its related STO business capabilities by issuing non-monetary movable property trust beneficiary certificates based on real assets such as gold, silver, palladium, copper, and nickel, based on its own blockchain technology."

Researcher Lim also expressed, "As a digital platform operator for gold trading and distribution with excellent references, if the domestic STO business materializes, ITCEN's growth value as Korea's first gold and raw materials-related STO platform operator will be highlighted."

Along with this, the attractiveness of gold is also expected to continue. ITCEN operates a real gold trading platform business through the 'Korea Gold Exchange.' Researcher Lim analyzed, "Gold prices are continuing to rise daily, reaching all-time highs. The attractiveness of gold is expected to continue due to geopolitical risks, a weak dollar, expectations of interest rate cuts, and prospects for China's economic recovery."

Expectations for new growth engines in artificial intelligence (AI) and cloud sectors are also increasing. He explained, "Subsidiaries Comtec System and Ssangyong Information & Communications are expected to contribute to external growth and gradual profitability improvement through strengthening AI and cloud-centered businesses and expanding synergies among affiliates."