Blade Ent Signs Business Agreement with Virtual Asset Custodian Cardo for Token Securities Project

K-content production company Blade Ent (Blade Entertainment) announced on the 27th that it has signed a memorandum of understanding (MOU) with Cardo, a blockchain technology company specializing in virtual assets, for the tokenized securities business.

Under this agreement, the two companies plan to promote a fractional investment tokenized securities business based on the IP (intellectual property rights) owned by Blade Ent.

Blade Ent is actively preparing for the commercialization of tokenized securities by securing various underlying assets. Initially, it is promoting the tokenized securities business using its entertainment IP and content distribution rights, while expanding its underlying assets to include waste landfills, electronic medicine, and digital therapeutics.

Choi Young-in, Head of the STO (Security Token Offering) Business Division at Blade Ent, stated, “We will do our best to become a leader in tokenized securities issuance through securing diverse underlying assets and collaborating on value assessment modeling technologies for these assets. Through this agreement, we will cooperate in various ways with Cardo, which has expertise in blockchain technology and understanding of financial products, to list on the KRX (Korea Exchange) New Securities Market.”

Cardo, a virtual asset operator invested in by NongHyup Bank, possesses blockchain expertise and platform development capabilities accumulated through its virtual asset business. Cardo previously demonstrated its capabilities in the token business by supplying tokenized securities solutions to Galaxy Money Tree.

Son Kyung-hwan, CEO of Cardo, said, “Although it is currently difficult for related businesses to operate smoothly due to issues such as valuation of tokenized securities, we expect that tokenized securities based on various assets will be issued and circulated soon. Based on the know-how gained through two tokenized securities platform supply contracts this year, we will actively cooperate in planning, designing, and building the platform for Blade Ent’s tokenized securities business to help establish a successful service.”

Meanwhile, on the 13th, the Financial Services Commission designated the Korea Exchange’s application for the establishment of the 'KRX New Securities (Investment Contract Securities and Non-Monetary Trust Beneficiary Securities) Market' as an innovative financial service during its regular meeting.