8 disruptive blockchain-based financial service platforms to take off in Korea soon
8 disruptive blockchain-based financial service platforms to take off in Korea soon
  • Jason Kang
  • 승인 2019.07.03 11:54
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Blockchain-based P2P stock brokerage lending and borrowing services will be commercially available starting from sometime in July.

The Financial Services Commission (FSC) of Korea said on July 2 that 8 innovative, new innovative, disruptive financial services will be served soon, including the blockchain-based P2P stock brokerage lending and borrowing services.

A case in point is Directional Inc’s blockchain-centric P2P stock brokerage lending and borrowing service platform that was built to enable individual investors to lend or borrow stocks freely.

According to the FSC, the P2P stock lending and borrowing service will allow individual investors to lend or borrow securities among at a commission fee, which will be determined depending on reasonable market prices following the supply and demand cycle.

The FSC designated Directional’s P2P stock brokerage lending and borrowing service as one of the 8 innovative and disruptive financial services on April 17.

The second case in point is Koscom’s blockchain-based trading platform that plans to list non-public, or privately held companies’ shareholders and then facilitate over-the-counter stock trading of non-listed securities. The service will be soon in the pipeline, too.

The third, which will be due out soon, is the blockchain-based digital real estate-pegged profit-making securities trading platform, of which developments are under way in a joint-effort by consortium member of KB Kookmin Bank, KEB Hana Bank, Korea Asset In Trust Co., and Korea Real Estate and Investment & Trust Co., Ltd. just to name four. 

FSC said that other innovative financial services waiting in line for the commercial availability include a customized loan products comparison platform, a SNS-certified money withdrawal agreement service, and a smart phone app-based credit card settlement service.


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