Korea Exchange·NXT consortium selected as STO OTC exchange operators

'Korea Exchange-Koscom'·'NextTrade-Musicow' consortia selected

LucentBlock consortium defeated

The operator of the token securities (STO) over-the-counter exchange (distribution platform) has effectively been decided.

According to financial circles on the 7th, the Financial Services Commission (FSC) held a Securities and Futures Commission meeting in the afternoon and, after deliberating on the preliminary license application for the fractional investment OTC exchange's financial investment business, selected the 'Korea Exchange-Koscom' consortium and the 'NextTrade (NXT)-Musicow' consortium.

Licensing matters require deliberation and resolution at the FSC's regular meeting. Therefore, final approval is expected after deliberation and resolution at the FSC's regular meeting scheduled for the 14th. It is rare for an item that passed the Securities and Futures Commission to be overturned at the regular meeting.

Three consortia had applied earlier to operate the fractional investment OTC exchange. Specifically: △Korea Exchange-Koscom consortium (tentative name KDX) △LucentBlock consortium △NextTrade-Musicow consortium (NextTrade (NXT)-Musicow) (tentative name NXT consortium). Earlier, the Financial Supervisory Service (FSS) had said it would grant preliminary approval to at most two of these.

The financial investment industry forecasts that as fractional investment targets expand to content, copyrights, etc., the related market could grow to about 360 trillion won by 2030.

Min-kyung Shin, Hankyung.com reporter radio@hankyung.com