Seoul Auction "Seoul Auction Blue to Pursue STO Overseas Expansion... Building Global NW Including Singapore"

Seoul Auction Blue, an affiliate of Seoul Auction, is set to enter the global STO (Security Token Offering) market following its domestic success. On the 29th, Seoul Auction Blue announced that it is working to establish an STO distribution network through collaboration with overseas local partners in Singapore and other locations.

Seoul Auction Blue is accelerating its STO business in line with the government's STO legislation. To build the infrastructure for STO issuance, it has been partnering with numerous domestic and international traditional financial institutions, and recently, it has been enhancing its STO issuance platform by expanding financial institution partnerships.

Seoul Auction Blue plans to advance into the global STO market alongside its domestic operations. Unlike other STO issuing companies limited to the domestic market, it has secured multiple overseas partners. Additional partnerships related to STO distribution are currently under discussion. The company explained that it will establish a global STO distribution network through cooperation with local STO companies in Singapore, Abu Dhabi, Dubai, and other locations.

Singapore is not only a global financial hub but also an advanced country in the STO sector, having completed STO legislation and operating various platforms. In 2019, Singapore’s financial regulatory authority, the Monetary Authority of Singapore (MAS), issued guidelines for STO issuance. Companies worldwide are issuing STOs and conducting related businesses through Singapore STO trading platforms such as ADDX.

A company representative stated, “We plan to expand STO issuance and build a global distribution value chain by cooperating with overseas local companies where institutional and economic foundations for STO exist and active trading is taking place. We will actively pursue additional partnership agreements by leveraging the fact that we have more local partners than domestic competitors.”

He added, “By enhancing our proprietary STO issuance platform, we will strengthen investor accessibility and maximize STO business performance based on a global partnership-based distribution network. We are also pursuing the acquisition of additional overseas partners to expand the art portfolio that serves as the underlying asset for STOs.”