Blueard is an AI-based digital innovation consulting and IT service company. It was established last year through the merger of ISTN, which specializes in SAP and cloud services, and INF Consulting, a financial IT and STO specialist.
In the financial sector, Blueard has developed key capabilities related to STO, including securities account and trading systems, token securities issuance and distribution platforms, and distributed ledger technology. As the institutionalization of STO becomes more apparent, the company is receiving interest from financial firms. It is currently collaborating with major securities companies such as Hanwha Investment & Securities, Hana Securities, and Shinhan Investment Corp.
Baek Man-yong, who oversees Blueard's STO business, noted that while interest in STO is growing, there are still many gaps in the market. He explained, "The STO business has two main pillars: on one side, we build the token securities issuance systems and distributed ledgers for securities firms, and on the other side, we provide advisory services through the token securities issuance center, which includes identifying underlying assets, structuring products, legal reviews in collaboration with law firms, and supporting the preparation of securities registration statements." He added, "The area that is particularly lacking in the STO market is product structuring."
This is the market segment that Blueard is focusing on. Following the establishment of STO infrastructure, Baek believes that issuance advisory will become a new revenue stream. He stated, "Product structuring is something that investment banks at securities firms are supposed to do. Structuring products worth several million to tens of millions of won is not significantly different from larger deals worth hundreds of millions, yet the profits are smaller." He continued, "From the perspective of securities firms, it is not cost-effective, and there is little incentive for personnel who could handle larger deals to focus on smaller STO products."
One of Blueard's key projects related to issuance advisory is the smart aquaculture initiative in Busan. The company is providing consulting on structuring investment contract securities based on the business profits generated from the Busan smart aquaculture pilot project.
Blueard is also considering content and intellectual property (IP) as major candidates for underlying assets. In collaboration with Lotte Future Strategy Institute and Shinhan Investment Corp., the company is exploring a business model to issue investment contract securities in the form of token securities based on various IPs, including characters and merchandise, as well as films, dramas, and performances. Baek remarked, "For performances or concerts with strong fan bases, fans could also become investors. This process of combining finance and culture could create a new market."
* This article has been translated by AI.
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