South Korea’s state-backed financial IT organisation Koscom will rise a blockchain-powered height for trade unlisted securities.
Koscom to launch blockchain-based unlisted shares trade use in H2 2019
Launched by South Korea’s Ministry of Finance and essentially corroborated by a Korea Exchange, Koscom skeleton to launch a blockchain-based height for unlisted bonds in a second half of 2019, internal journal The Chosun Ilbo reported on Aug. 6.
According to a report, a beginning 6 internal companies and organizations are participating in a initiative, including Koscom, KEB Hana Bank, Hana Financial Investment, Daejeon Technopark, Amicus Lex, and a internal organisation of accelerators. KEB Hana Bank and Hana Financial Investment are subsidiaries of Hana Financial Group, one of a largest bank holding companies in South Korea.
As pronounced in a press release, a plan intends to assistance small- and medium-sized try companies enhance their capabilities in bonds trade by providing a cost-efficient, secure and permitted height for trade unlisted securities.
The proclamation follows Koscom’s capitulation to build services for trade unlisted bonds in May 2019, a news notes.
Recently, Koscom and KEB Hana Bank were reported to be participating in another blockchain-enabled initiative. Alongside tech hulk Samsung Electronics, Woori Bank, mobile carriers SK Telecom, KT and LG UPlus, a companies total army to launch a blockchain-based mobile marker complement in 2020.