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South Korea’s Kakao Enterprise To Build Platform For Issuing Token Securities
South Korean tech giant Kakao Enterprise has announced its plans to expedite the establishment of a platform for issuing token securities based on blockchain technology. The company’s blockchain platform has already developed an electronic wallet and an application program interface based on Klaytn, and it is participating in the Central Bank Digital Currency project of the Bank of Korea.
Kakao Enterprise has a number of improved security features for account management, and the blockchain platform has several functions specific to financial institutions. Furthermore, the platform has been developed in Korea, which enables it to effectively respond to maintenance and service advancement.
@azcoinnews
Token securities are digitized securities using blockchain technology. Assets that were previously difficult to divide and trade, such as art, real estate, and music copyrights, can be digitized and traded like stocks.
Kakao Enterprise has recently announced that it will participate as a technology partner in ‘Korea Investment ST Friends’, a token securities consultative group formed by internet banks such as Kakao Bank and Toss Bank. Korea Investment ST Friends is the first case in which a financial institution has been formed to support the institutionalization of token securities.
Kakao Enterprise will be responsible for establishing an issuance infrastructure that can supply products suitable for token securities in the relevant token securities council. It will also support the design of securities token issuance and account management methods using blockchain technology, and will be in charge of technical review for the overall STO of Korea Investment & Securities.
The company also plans to expand its alliances with banks and card companies for the operation of the STO blockchain network. With these initiatives, Kakao Enterprise aims to build a faster, more stable, and more efficient platform so that various financial institutions can participate in the STO ecosystem centered on Korea Investment & Securities.
Kakao Enterprise has designed and successfully operated the entire process of stablecoin issuance-distribution-disposal for the Bank of Korea and 14 banks through the Bank of Korea CBDC simulation project. This experience will undoubtedly prove useful in the company’s efforts to establish a platform for issuing token securities.
#Kakao #KakaoTalk #crypto2023 #STO #azcoinnews
This article was republished from azcoinnews.com
Kakao Enterprise has a number of improved security features for account management, and the blockchain platform has several functions specific to financial institutions. Furthermore, the platform has been developed in Korea, which enables it to effectively respond to maintenance and service advancement.
@azcoinnews
Token securities are digitized securities using blockchain technology. Assets that were previously difficult to divide and trade, such as art, real estate, and music copyrights, can be digitized and traded like stocks.
Kakao Enterprise has recently announced that it will participate as a technology partner in ‘Korea Investment ST Friends’, a token securities consultative group formed by internet banks such as Kakao Bank and Toss Bank. Korea Investment ST Friends is the first case in which a financial institution has been formed to support the institutionalization of token securities.
Kakao Enterprise will be responsible for establishing an issuance infrastructure that can supply products suitable for token securities in the relevant token securities council. It will also support the design of securities token issuance and account management methods using blockchain technology, and will be in charge of technical review for the overall STO of Korea Investment & Securities.
The company also plans to expand its alliances with banks and card companies for the operation of the STO blockchain network. With these initiatives, Kakao Enterprise aims to build a faster, more stable, and more efficient platform so that various financial institutions can participate in the STO ecosystem centered on Korea Investment & Securities.
Kakao Enterprise has designed and successfully operated the entire process of stablecoin issuance-distribution-disposal for the Bank of Korea and 14 banks through the Bank of Korea CBDC simulation project. This experience will undoubtedly prove useful in the company’s efforts to establish a platform for issuing token securities.
#Kakao #KakaoTalk #crypto2023 #STO #azcoinnews
This article was republished from azcoinnews.com
#HashKeyGroup , the operator of one of Hong Kong's two licensed #cryptocurrency exchanges, is joining forces with the operator of Telegram Messenger's #blockchain to facilitate the exchange of Toncoins for cash. This partnership, focusing on users in the Asia-Pacific region, will also involve collaborative efforts on new ecosystem projects, mentorship, and networking opportunities, according to the #TON Foundation.
Following Telegram's abandonment of the blockchain due to a settlement with the US Securities and Futures Commission in 2020, the TON Foundation was established to continue developing the blockchain. Despite regulatory challenges, TON remains closely tied to Telegram, leveraging its massive user base for adoption.
TON's blockchain integration with Telegram allows for the creation of mini apps, with TON Foundation ensuring premium visibility within the app as the default wallet option. Despite regulatory restrictions in certain jurisdictions, TON sees potential in Asia, where super apps like Line, #Kakao , and WeChat are popular.
The collaboration with HashKey Group marks a strategic move for TON's expansion, particularly in facilitating conversions between tokens and cash. For HashKey, this partnership complements its recent efforts to expand globally, including launching a global crypto exchange and obtaining upgraded licensing from Hong Kong's Securities and Futures Commission.
By teaming up with the TON Foundation, HashKey aims to leverage the potential popularity of Toncoin through Telegram's extensive user base, potentially positioning itself as a key player in facilitating cryptocurrency transactions across Asia - SCMP
Following Telegram's abandonment of the blockchain due to a settlement with the US Securities and Futures Commission in 2020, the TON Foundation was established to continue developing the blockchain. Despite regulatory challenges, TON remains closely tied to Telegram, leveraging its massive user base for adoption.
TON's blockchain integration with Telegram allows for the creation of mini apps, with TON Foundation ensuring premium visibility within the app as the default wallet option. Despite regulatory restrictions in certain jurisdictions, TON sees potential in Asia, where super apps like Line, #Kakao , and WeChat are popular.
The collaboration with HashKey Group marks a strategic move for TON's expansion, particularly in facilitating conversions between tokens and cash. For HashKey, this partnership complements its recent efforts to expand globally, including launching a global crypto exchange and obtaining upgraded licensing from Hong Kong's Securities and Futures Commission.
By teaming up with the TON Foundation, HashKey aims to leverage the potential popularity of Toncoin through Telegram's extensive user base, potentially positioning itself as a key player in facilitating cryptocurrency transactions across Asia - SCMP
