[Lambda256 x Shinhan Securities Initiate Proof-of-Concept to Promote STO Business]
Shinhan Securities announced on December 5th that together with blockchain solution company Lambda256, it will launch a Proof-of-Concept (PoC) to promote the security token (STO) platform business.
Through this platform business, Shinhan Securities plans to enable the tokenization of any underlying asset. Key plans include building blockchain infrastructure, designing digital wallets, issuing, subscribing, and distributing tokens, and linking them with existing financial systems, to internalize technology related to security tokens.
Security tokens refer to securities that are issued as tokens using blockchain technology. They lower the entry barrier for investors, by allowing them to divide ownership of diverse assets (fractional investments) such as real estate, art, and stocks. The advantages of this are a lower issuance cost than traditional securities and a lower risk than alternative digital assets that are based on real value.
Security token Proof-of-Concept is carried out by Shinhan Securities’ blockchain department and Dunamu’s blockchain-specialized subsidiary Lambda256. Lambda256 provides the blockchain platform Luniverse, complete with blockchain consulting for partnered companies, offering a total blockchain solution for diverse businesses that are making the transition into Web3.
Shinhan Securities plans to form a task force (TF) that will lead the development of a security token platform. Experts from diverse fields including product, deposits, payments, and legal affairs will use related systems and overseas case studies as a benchmark to design internal systems.
Furthermore, Shinhan Securities launched its blockchain division, a department dedicated to blockchain-related projects, in July 2022. Kim Jang-woo, head of the Digital Group at Shinhan Securities emphasized that: “We will continue to increase tests conducted with promising companies, to become leaders of new blockchain-based markets, such as security tokens.”
Source: CoinDesk Korea (http://www.coindeskkorea.com/news/articleView.html?idxno=82415)