Wemade Makes Strategic Investment in Blockchain Proptech Startup 'Casa'

[Asia Economy Reporter Kang Nahum] Wemade announced on the 14th that it has made a strategic investment in Kasa, a blockchain-based prop-tech startup. Prop-tech refers to the integration of technology with property.

Kasa is a blockchain-based digital asset-backed security (DABS) trading platform that allows investment in commercial buildings with small amounts. By investing 5,000 KRW, one can own one DABS share, and investors receive quarterly dividend income based on their holdings. They can also gain capital gains upon sale.

Launched in April 2018, Kasa officially obtained approval as an 'Innovative Financial Service' designated by the Financial Services Commission in December 2019. Starting with its first building, 'Yeoksam Londonville,' in November last year, it recently completed public offerings for its third building, 'Yeoksam Korea Technology Center.'

Recently, Kasa obtained both the public offering and secondary trading licenses for securities from the Monetary Authority of Singapore, and plans to establish an exchange in Singapore by the first half of next year. Kasa aims to grow into a leading global prop-tech startup by leveraging its entry into Singapore.

Jang Hyun-guk, CEO of Wemade, stated, "DABS, along with non-fungible tokens (NFTs), will be the future of all physical assets," adding, "Through this investment, we expect comprehensive synergy in the blockchain businesses of both companies."

This content was produced with the assistance of AI translation services.