Koscom is set to revamp its infrastructure for securities issuance, distribution, and settlement. Following the opening of the new securities and fractional investment markets this year, the company is accelerating efforts to build a shared infrastructure connecting market participants ahead of the implementation of the token securities system next year.
According to the financial investment industry on the 27th, Koscom is preparing a joint issuance platform for token securities called 'KoSTO,' which can be used by multiple securities firms. This initiative aims to reduce the burden of system development and duplicate investments for individual securities firms while providing a standardized issuance, ledger management, and institutional linkage system from the market's inception.
Currently, 12 securities firms, including Kiwoom Securities, Daishin Securities, IBK Investment & Securities, Yuanta Securities, BNK Investment & Securities, DB Securities, iM Securities, Meritz Securities, Kyobo Securities, Daol Investment & Securities, Woori Investment & Securities, and NH Investment & Securities, have signed a business agreement related to KoSTO.
The establishment of the joint issuance platform is part of the preparatory work for the opening of the new securities market and the fractional investment over-the-counter exchange (KDX). In this regard, the Korea Exchange plans to launch a new securities market on November 16, where trust beneficiary securities can be traded based on assets such as art, real estate, and content. The KDX is also expected to open by the end of the year.
Kim Wan-sung, head of Koscom's Digital Asset Business Division, stated, "The transformation of capital market infrastructure, where issuance, distribution, settlement, rights management, and collateral utilization are interconnected digitally, is the essence of token securities. We will steadily prepare to connect market participants reliably through KDX and KoSTO, including the tokenization of standard securities, on-chain settlement, and global network linkage."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.