EightOne-Fides Development Sign MOU on Real Estate STO and More... "Expanding Business in the STO Sector"

KOSDAQ-listed company EightOne has signed a business agreement with comprehensive real estate development company Pides Development to strengthen cooperation in the token securities issuance (STO) business.

Blockchain-based fintech specialist EightOne (CEO Jin-Yeop Lee) announced on the 18th that it signed a "Strategic Business Agreement (MOU) for Promoting Real Estate STO Business" with Pides Development at Pides Development's headquarters in Gangnam-gu, Seoul.

The signing ceremony was attended by EightOne CEO Jin-Yeop Lee, Pides Development CEO Seung-Bae Kim, and executives and employees from both companies. Through this agreement, the two companies decided to jointly promote various projects where Pides Development's real estate business and EightOne's IT technology can create synergy.

In particular, they plan to provide advanced services by integrating EightOne's VR, artificial intelligence, and fintech technologies into Pides Development's real estate business areas, including ▲STO underlying asset discovery ▲VR technology model houses ▲AI proptech space development.

Additionally, to jointly promote the real estate STO business that tokenizes real estate into securities, the two companies agreed to actively cooperate in utilizing STO in various projects led by Pides Development. Pides Development, which has developed and supplied various real estate such as apartments, residential complexes, offices, knowledge industry centers, and urban development projects, is currently supplying a 39-story residential lodging facility, the tallest in Gangwon Province.

Recently, as the legislation for token securities issuance has accelerated through public hearings, companies in development, construction, and implementation sectors have shown interest in STO fractional investment. In particular, Assemblyman Chang-Hyun Yoon, who hosted the public hearing, stated that the STO amendment bill aims to pass within this year, raising expectations in the industry.

Representatives from both companies said, "As a space trend leader with diverse real estate development capabilities, Pides Development and EightOne, which possesses advanced technology, are expected to lead new asset products," adding, "Through this business agreement, we will strengthen cooperation between the two companies, actively discover high-value real estate assets, and create new and safe investment opportunities by tokenizing them."

An EightOne representative added, "Based on blockchain technology boasting excellent data processing speed, EightOne plans to actively establish partnerships and cooperation with various industries such as real estate developers, trust companies, and construction companies to lay the groundwork for the STO business."

Meanwhile, Pides Development CEO Seung-Bae Kim has served as the 5th president of the Korea Real Estate Development Association since 2020 and was reappointed in March to serve as the 6th president. The Korea Real Estate Development Association is a statutory organization representing the real estate development industry, playing a hub role in the industry by producing over 18,000 professionals.

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