Finger Inc. announced ‘IBCT’ and ‘Asset Chain’ have joined ‘STO Technology Consortium’ as new membership
‘IBCT’ has joined the ‘STO (Security Token Offering) Technology Consortium’ organized by the comprehensive fintech specialist company ‘Finger Inc.’
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Finger Inc. announced ‘IBCT’ and ‘Asset Chain’ have joined ‘STO Technology Consortium’ as new membership
Finger Inc. (CEO Ahn Inju) announced on the 18th of October that ‘Asset Chain’ and ‘IBCT Co., Ltd.’ have joined the ‘STO Technology Consortium’ as new membership.
The ‘STO Technology Consortium,’ which includes Finger Inc., ‘EQBR,’ ‘Blockchain Global,’ and ‘Zkrypto’ among its 6 participants, was organized with the goal of collaborating on the establishment of STO (Security Token Offering) systems in the financial sector.
The consortium is focusing on the technical competence through collaboration with specialized companies that have experience and expertise in various technical elements required for building STO (Security Token Offering) systems, including distributed ledger technology, issuance, and distribution systems.
‘Asset Chain’ is a company with expertise in building securities systems and has experience in KB Securities’ physical asset securitization business.
‘IBCT’ is a blockchain commercialization service company for various government offices. They possess EOS-based distributed ledgers, DID (Digital ID and cyber security solutions), and document security technology.
Kim Sung-Ryong, the Chairman of ‘Asset Chain’, stated, “Asset Chain takes pride in being the only domestic company with both experience in building legacy systems for securities firms and expertise in securitizing physical assets. Through our participation in this consortium, we look forward to achieving synergy in the financial sector’s STO initiatives.
Martin Lee, CEO of IBCT, stated, “Until now, we have faced difficulties in participating in financial sector system development projects due to the lack of expertise in terms of company size and project management & system.” He added, “The consortium is providing a good opportunity for technically proficient blockchain technology companies, and we anticipate that this will be a great chance for IBCT to expand our technological capabilities into the financial sector.”
Ahn In-joo, Finger’s CEO, stated, “Collaboration among technology companies is crucial in building the STO ecosystem. Even in the case of existing blockchain networks, the participation of various technology companies has led to the creation of DeFi (Decentralized Finance) services and DApp (Decentralized Application) services, contributing to the development of the ecosystem.” Therefore, He emphasized, “For STO distributed ledgers, it is very important to build an ecosystem through collaboration between these technology companies.”
He further added, “In addition to the establishment of the STO system for the financial sector, we are also planning to operate a consortium from a long-term perspective.”
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