KOSCOM Signs MOU with Hyundai Motor Securities to Launch Token Securities Platform Business

KOSCOM has signed a memorandum of understanding (MOU) with Hyundai Motor Securities for the joint use of a token securities platform and business collaboration.

Koscom.

According to KOSCOM on September 2, this agreement was established to prepare for the implementation of the token securities system in February next year by combining the work and technological capabilities of both companies, and to establish a joint infrastructure and service framework that can reliably support the issuance of token securities and related tasks.

The two companies plan to cooperate in several areas, including: connecting work and systems for joint use of the KOSCOM token securities platform; discovering underlying assets and products for token securities; detailing issuance and account management processes; conducting joint tests that reflect legal, regulatory, and investor protection requirements; and exchanging information to vitalize the token securities market.

KOSCOM is preparing 'KoSTO,' a shared token securities platform that can be jointly used by multiple securities firms. It has completed the infrastructure for token securities issuance in collaboration with LG CNS and finished a testbed demonstration for integration with Korea Securities Depository's total quantity management system, as well as signed business agreements with 12 securities companies. With the addition of Hyundai Motor Securities, the number of securities companies collaborating on the joint platform has increased to 13.

KOSCOM is also pursuing a proof of concept (PoC) for token securities settlement using stablecoins. In addition to new securities such as investment contract securities and beneficiary certificates, the company is preparing to tokenize existing conventional securities like bonds.

Hyundai Motor Securities plans to efficiently establish the systems and business infrastructure necessary for the token securities business by utilizing KoSTO, and to provide new investment opportunities to clients by discovering competitive underlying assets and products. The company also intends to take a proactive approach to the token securities market based on its core expertise, such as product structuring and investor service planning.

Yoon Changhyun, CEO of KOSCOM, stated, "For the token securities market to be fully activated, not only product innovation but also a reliable infrastructure capable of supporting processes from issuance to rights management is crucial." He added, "Through collaboration with Hyundai Motor Securities, we will enhance the completeness of the joint platform and establish a foundation that allows financial investment companies to participate in the token securities business at reasonable costs."

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