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Korea Exchange Launches Blockchain-Powered Private Market
The Korea Exchange, South Korea’s sole securities exchange operator, has launched a new service that utilizes blockchain technology.
By Corin Faife
Updated Sep 11, 2021, 12:37 p.m. Published Nov 16, 2016, 5:00 p.m.
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The Korea Exchange (KRX), South Korea’s sole securities exchange operator, has launched a new service in which equity shares of startup companies can be traded on the open market.
Called the Korea Startup Market (KSM), the service is being provided in partnership with Blocko, a Korean blockchain startup that has produced a blockchain-as-a-service platform called Coinstack.
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The Coinstack platform will provide document and authentication services for the KSM by checking against client references that have already been provided to the system by Korean banks like JB Bank, KISA, Lottecard, Paygate and others.
As CoinDesk previously reported, senior figures in Korea Exchange's planning team have been researching blockchain initiatives since 2015, convening a task force to give strategic guidance on how the technology could be used. But it is only now that the results are being released as part of the service KRX offers to traders.
Won-Beom Kim, Blocko CEO, said in statements that service marks the "first example" of how blockchain could be used in the domestic over-the-counter stock market as envisioned by KRX.
He added that Blocko is now striving to showcase how its blockchain offering could be applied to more industries, including bonds and promissory notes.
Korea image via Shutterstock
Lebih untuk Anda
BlackRock exec says 1% crypto allocation in Asia could unlock $2 trillion in new flows
During a panel discussion at Consensus in Hong Kong, Peach pointed to massive capital pools in traditional finance as ETF adoption spreads across Asia.
Yang perlu diketahui:
- Even a 1% crypto allocation in standard portfolios across Asia could translate into nearly $2 trillion of inflows, highlighting how modest shifts in asset allocation could transform the digital asset market, according to the head of APAC iShares at BlackRock, Nicholas Peach.
- BlackRock's iShares unit, whose U.S.-listed spot Bitcoin ETF IBIT has rapidly grown to about $53 billion in assets, is seeing strong demand from Asian investors as ETF adoption accelerates across the region.
- Regulators in markets such as Hong Kong, Japan and South Korea are moving toward broader crypto ETF offerings, but industry leaders say investor education and portfolio strategy will be critical to channeling traditional finance capital into digital assets.
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