Korea Investment & Securities-Fundaful Token Securities Investment Merchandising Agreement signed

2023-04-20 00:57:49

[이데일리 김인경 기자] Korea Investment & Securities, a subsidiary of Korea Financial Holdings (071050), announced on the 20th that it had signed a memorandum of understanding (MOU) with ‘Funderful’, a cultural content investment platform such as movies and dramas, to commercialize security tokens (ST).

At the business agreement ceremony held at the headquarters of Korea Investment & Securities in Yeouido on the 19th, the two companies agreed to △ develop token securities-type investment products △ token securitization of investment contract securities △ build infrastructure to install related investment products in the platform.

Investment contract securities, which are the core of token securities products, are a type of securities permitted under the Capital Markets Act. It refers to securities in which an investor has the contractual right to invest money, etc. All assets with atypical characteristics, from artworks, ships, and aircraft to intellectual property (IP) such as sound sources and movies, can be included in the category of investment contract securities.

Korea Investment & Securities, which launched ‘Korea Investment ST Friends’, a token securities consultative group in partnership with Kakao Bank, Toss Bank, and Kakao Enterprise last month, is accelerating the development of the issuing distributed ledger (blockchain) system and the supply of token securities products. In addition to this agreement, strategic alliances with various partners are also being pursued for planning and issuing token securities products.

Choi Seo-ryong, head of Korea Investment & Securities Platform Headquarters, said, “We expect to be able to discover high-quality products by utilizing Fundapool’s rich content capabilities.” We will take the lead in building an ecosystem in the early stages of token securities while supplying it.”

Meanwhile, Korea Investment ST Friends is expected to be the first token securities consultative body formed by financial institutions. As the unprecedented new market of token securities opens, Kakao Bank and Toss Bank, which have led the fintech industry in the banking industry, and Korea Investment & Securities, which have led the Korean capital market, plan to create synergy with the establishment of token securities issuance platform infrastructure as their top priority.

Choi Seo-ryong, head of Korea Investment & Securities Platform Headquarters (right), and Yoon Seong-wook, CEO of Fundaful, are taking a commemorative photo after signing a business agreement on the 19th.[한국투자증권 제공]

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