An aircraft engine-based STO is coming out…Stretching Token Securities Market
Specifying an Aircraft Engine-Based Trust Beneficiary Certificate Sandbox
Bicell Standard introduces ‘K-asset’ STO in Thailand
FURNIA COMPANY-SUMMIT PLAY, TOKEN SECONDARY BUSINESS
This article has been translated into English through AI.
As aircraft engine-based trust beneficiary securities have been designated as financial regulatory sandboxes for the first time in Korea, the security token offering (STO) industry is looking for vitality again. In addition, discussions on token securities based on various underlying assets such as webtoons, movies, and sound sources have attracted attention from the industry at home and abroad.
Galactica Moneytree Designates Aircraft Engine Trust Beneficiary Securities Innovative Financial Services
Galaxy Money Tree has been newly designated as an innovative financial service (financial regulatory sandbox) by the Financial Services Commission as the first aviation finance-based trust beneficiary certificate in Korea. The designation of the sandbox is the first case since the announcement of the guidelines for token-linked products announced by the Financial Services Commission last year.
“Airplane Engine Trust Beneficiary Securities” is a structure that trusts real aircraft engines, issues trust beneficiary securities in an electronic registration method, and then distributes them to investors through the platform. Galaxy Money Tree is in charge of developing the consortium’s general management and the platform for issuing aviation financial trust beneficiary securities.
Earlier in September last year, Galaxy Money Tree formed a consortium with Shinhan Investment & Securities, Eugene Investment & Securities, VMIC and Cirium to issue aviation finance-based trust beneficiary certificates. The consortium has established a business model that receives issuance fees by issuing an average of 10 billion won worth of aircraft engines as trust beneficiary certificates.
Shinhan Investment & Securities and Eugene Investment & Securities support distribution platform development, operation, and trust account management, respectively. Domestic aviation asset manager VMIC supports service and asset management for aircraft engines, and aviation data analysis company Cirium provides aircraft engine asset valuation and aviation data.
Bi-Cell Standard Proposed Possibility of ‘K- Asset’ STO in Thailand
Bycel Standard, the operator of the token securities (STO)-based digital asset management platform Peace (PIECE), presented the growth of the STO industry through K-asset at the world’s largest fintech event.
Jang Jae-hoon, head of the Weissel Standard financial sector, was invited to speak as Korea’s first official speaker at the ‘Money 20/20 Asia’ held in Bangkok, Thailand on the 30th. He also discussed partnerships such as investment and collaboration with major overseas financial companies.
On the same day, Jang stressed that the scope of STO’s underlying assets, which remain in certain kind such as real estate and artworks, should be expanded to intangible assets such as △ intellectual property △ flow of profits △ personal credit. In particular, he proposed to directly invest in content businesses such as webtoons, movies, and albums, as well as projects and shares of companies using STO.
In addition, he was invited to a private networking party attended by minister-level officials and heads of fintech associations, presented a blueprint for issuing and distributing local STO products, and decided to continue detailed discussions with officials from major countries such as Indonesia, Taiwan, Cambodia, and Malaysia.
Fruity Company, Summit Play, STO Business Reaches Deal
Fruit Company, which operates Art & Guide, an art sculpture investment platform, has signed a business agreement with Summit Play, an unpublished music source intellectual property (IP) content company. To advance into the STO business, the two companies plan to discuss the STO business based on the global digital music market.
Art & Guide operator Fruit Company is expected to issue a sculpture investment plan in partnership with companies with expertise in various industries. Recently, in addition to art, it is planning a sculpture investment product based on new underlying assets. According to related industries, Fruit Company is currently planning a product structure by securing assets other than art, such as raw materials, Korean beef, and puer tea.
Summit Play is a startup founded in September 2021 and operates a music trading platform that trades unreleased music through an auction system. Songs from unknown composers that have not been officially released are mainly traded.
Oh Tae-hyun, CEO of Summit Play, said, “Through this business agreement, we will be able to further strengthen the various contents that Summit Play envisions,” adding, “We will secure high-quality IP and affiliated stores to expand the base of the music market and strive to settle copyright profits for artists.”