KOSDAQ-listed company NBT announced that it has completed the sale of its CSM Building property, primarily to secure funds for its new stablecoin business initiative. The total sale price was 35.7 billion KRW. Through this transaction, NBT realized a capital gain of approximately 6.7 billion KRW, which is more than a 20% increase over the purchase price after about three years.
The CSM Building is a commercial property with a land area of approximately 1,090 square meters and a total floor area of about 3,217 square meters, consisting of six floors above ground and two basement levels. NBT initially acquired the CSM Building in November 2021 for approximately 29 billion KRW as its new headquarters, but later converted it into a rental asset in line with its revised management strategy.
Currently, NBT is focusing on its mid- to long-term growth vision with the goal of developing a stablecoin utility platform. Based on the funds secured from this property sale, the company plans to implement a strategic purchase and reserve program for stablecoins such as USDC. NBT also aims to expand into KRW-based stablecoins scheduled for domestic launch, and is preparing for a proactive platform transition to secure an early lead in the market.
A company representative stated, "As improvements in the regulatory and policy environment are providing a foundation for point platform operators to realize their vision, NBT will leverage its accumulated technological capabilities to rapidly secure market leadership and establish itself as a leading player in the stablecoin utility platform sector. Our goal is to become a company that implements payment and reward business models based on stablecoins, available not only in Korea but worldwide, through a phased strategy."
NBT plans to gradually develop its solutions to establish a stable and long-term stablecoin hub. The company expects that securing funds for future mid- to long-term investments and building strong partnerships will be essential. Accordingly, NBT intends to keep open the possibility of strategic investments and joint business partnerships with core existing partners as well as in various fields such as content, technology, and digital platforms, to shape the company's future together.
Stablecoins are cryptocurrencies issued with a fixed value pegged to existing currencies, mainly linked to fiat currencies like the US dollar or physical assets to maintain price stability. Due to their low price volatility and stable value, stablecoins are gaining attention as useful tools for payments, remittances, and financial transactions in the fintech sector. According to data from the Bank of Korea, the volume of stablecoins traded on domestic virtual asset exchanges reached approximately 57 trillion KRW in the first quarter of this year alone.
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