Amid mounting market interests in STO, or Security Token Offerings in Korea, a Korean FinTech company, a blockchain builder, and a law firm embark on an ambitious journey to establish STOK platform in compliance with the Korean Capital Market Act.
FinTech and blockchain marketing company teamw.e said that the company has signed a MOU with NeoPly and HanByol Law LLC to establish and operate STOK in Korea.
To be built around EOS STO protocol platform, the Korean STOK platform aims to develop many use cases in compliance with the Korean Capital Market Act.
Leading the development of the platform is NeoPly, while teamw.e will be responsible for the operation of the platform. Led by attorney Kwon Dam, Hanbyol Law LLC not only will legally review whether the business activities of the platform comply with the Korean Capital Market Act or not, but also give legal advices to develop law-compliance trading cases.
Once the platform established, the three interested parties will cooperate to invite other companies in talks to join the platform to expand the ecosystem - a move to preempt a head-start in the yet untapped domestic STO market and advance into overseas STO market.
Kwon Yong Gil, CEO with NeoPly said, "It looks a good opportunity for a company who wants to do STO business in Korea. That's the reason why we decided to join in.