Lambda256, the blockchain tech arm of South Korean fintech leader Dunamu, announced that it has signed a strategic partnership with VNX, a European tokenization platform, to expand its STO (Security Token Offering) network. VNX (VNXLU), is a European company with offices in Luxembourg and Liechtenstein, operates platforms that bring traditional assets to the crypto world. Leveraging its proprietary blockchain platform, Luniverse, Lambda256 has been swiftly building its business cases in the domestic STO market, utilizing its technology and network. As a leading provider of blockchain cloud service platform in East Asia, Lambda256 has been at the forefront of the South Korean STO market. It has established STO businesses with major Korean securities firms such as Shinhan Investment Corp., Yuanta Securities, and Eugene Investment & Securities, following the release of STO regulatory guidelines by the Financial Services Commission of Korea in March. VNX launched its tokenization platform in Luxembourg 2019 and since then has also launched a company registered with the Financial Market Authority (FMA) of Liechtenstein that generates stablecoins backed by physical Gold: VNX Gold (VNXAU) and fiat referencing: VNX Euro (VEUR) and VNX CHF (VCHF), addressing the lack of reliable assets in the crypto world.
Through this strategic collaboration, both companies plan to not only expand Lambda256’s global STO and VNX’s ABT business network but also enhance their products. Lambda256 will provide blockchain-based technology to VNX, while VNX will be responsible for the operation and compliance guidance. Jo Won-ho, Head of STO Business at Lambda256, said, “We are pleased to establish a strategic collaboration with VNX, a successful asset tokenization platform operating in Europe. Just like the digital asset market, the tokenized securities business should also consider global markets with significant liquidity from the early stages. Lambda256 is actively preparing competitive technologies and business platforms that can support South Korean STO asset holders and securities firms looking to expand into overseas markets.”
Alexander Tkachenko, CEO and Founder of VNX, commented, “We are thrilled to partner with Lambda256 to jointly develop an unparalleled global STO experience. We aim to leverage existing infrastructure to offer customers access to a wide range of digital assets and services across continents.”