Two new blockchain-powered unlisted over-the-counter (OTC) inventory buying and selling platforms ought to launch in South Korea subsequent 12 months, with a 3rd, rival platform already able to open its doorways for enterprise.
Per Fn Information, a doubtlessly groundbreaking cooperation between Dunamu, the operator of market-leading crypto change Upbit and Samsung’s Samsung Securities subsidiary is about to start pilots in early fall this 12 months, with a view to going stay in September 2021. The crypto change operator states that the brand new platform will automate and confirm the id of merchants utilizing distributed ledger expertise.
The media outlet quotes a Dunamu spokesperson as stating that it and Samsung Securities will look to broaden the operations of the brand new Securities Plus platform, particulars of which have been first outlined in October final 12 months.
A second platform, to be run by securities buying and selling platform PSX, along side the funding arm of main industrial financial institution Shinhan has already begun a pilot in a regulatory sandbox and claims to supply buyers the possibility to purchase and promote unlisted shares in a few of the nation’s fastest-growing companies, together with e-commerce platform Market Curly and lodging reservation website Yanolja. PSX, per the identical media outlet, hopes to be stay with its new platform by February 2021, with Shinhan dealing with technological issues and account management-related points.
In the meantime, a 3rd platform, named Be My Unicorn – operated by securities buying and selling firm the Korea Securities Computing Company (KOSCOM) – claims to already be up and operating, having spent one 12 months working by itself interface.
KOSCOM is a part of a decentralized ID venture being co-run by the federal government along side main banks, electronics giants LG and Samsung. Extra not too long ago, Binance Korea introduced that it might be becoming a member of the initiative.