Koscom Signs MOU with Kyobo Securities to Advance Tokenized Securities Platform Business

Koscom announced on April 14 that it has signed a memorandum of understanding (MOU) with Kyobo Securities for joint use of a tokenized securities (STO) platform.

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With this agreement, the number of securities firms participating in the Koscom joint platform has expanded to a total of nine, now including Kyobo Securities alongside Kiwoom Securities, Daishin Securities, IBK Investment & Securities, Yuanta Securities, BNK Investment & Securities, DB Financial Investment, iM Securities, and Meritz Securities.

With the implementation of the tokenized securities system scheduled for February next year, there is a growing trend in the securities industry to reduce infrastructure construction costs and operational burdens by utilizing the Koscom platform.

In 2023, Koscom, together with LG CNS, built the issuance platform infrastructure and completed a testbed demonstration for total volume management in collaboration with the Korea Securities Depository.

In preparation for the future use of stablecoins in tokenized securities settlements, Koscom has also completed a proof of concept (PoC) for atomic settlement using stablecoins as a means of payment within the issuance platform.

Recently, Koscom has also joined the "KDX Consortium," a fractional investment distribution platform, in partnership with Korea Exchange (KRX), and has obtained preliminary approval as it moves forward with building an over-the-counter trading platform.

A Koscom official commented, "The joint tokenized securities platform is designed so that securities firms can jointly utilize infrastructure across the entire cycle-from issuance to distribution and settlement. We will do our utmost to further advance the infrastructure to enable the stable growth of the tokenized securities market."

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