Galaxia Moneytree Participates in Policy Seminar to Promote Token Securities Activation

Galaxia Moneytree announced on the 3rd that it will participate in the 'Policy Seminar for the Activation of Token Securities (STO)' hosted by the Korea Blockchain Industry Promotion Association (KBIPA).

This policy seminar is co-hosted by Kim Jae-seop, a member of the People Power Party, and Min Byung-duk, a member of the Democratic Party of Korea. It will be held on the 4th of this month at the National Assembly Members' Office Building. The seminar is organized by KBIPA along with the Korea Fintech Industry Association (KORFIN) and the Digital Economy Finance Institute.

Galaxia Moneytree’s STO Business Team Leader Lee Ju-sik is scheduled to explain the aircraft engine trust beneficiary certificates, designated as an innovative financial service in April, under the theme of ‘Current Status and Issues of the Token Securities Market.’ The aircraft engine-based trust beneficiary certificates are the first case designated as an innovative financial service since the Financial Services Commission announced the token-linked product guidelines last year.

In September last year, Galaxia Moneytree formed a consortium with Shinhan Investment Corp., Eugene Investment & Securities, VMIC, and Cirium to issue trust beneficiary certificates based on aircraft finance. Galaxia Moneytree took charge of overall consortium management and issuance platform development, while Shinhan Investment Corp. and Eugene Investment & Securities supported distribution, operation, and trust account management respectively.

Lee Ju-sik, STO Business Team Leader at Galaxia Moneytree, said, “For the activation of token securities, diversification of underlying assets and regulation of token-linked products are essential elements,” adding, “Our company is currently accelerating preparations to issue token-linked products based on high-end products and carbon emission rights as underlying assets.”

Meanwhile, according to the financial investment industry and political circles, Kim Jae-seop, who hosted this policy seminar, is reportedly set to introduce a bill next week to amend the Capital Markets Act and the Electronic Securities Act for the legalization of token securities. The bill was previously introduced in the 21st National Assembly but was automatically discarded due to the end of the term. In the 22nd National Assembly, there appears to be no disagreement between the ruling and opposition parties regarding this bill, and it is expected that the bill will pass soon.