Lucentblock Receives Social Venture Certification in South Korea

Lucentblock, operator of tokenized securities platform Soyo, said Wednesday it had received social venture certification from South Korea's Ministry of SMEs and Startups.

The ministry grants the certification to companies that contribute to society through innovative technologies and business models.

Lucentblock has used its fractional investment platform Soyo to digitize high-value assets and enable small-sum investment, lowering barriers to entry in the market for premium assets. The company said the certification recognized its efforts to narrow gaps in access to capital by allowing investors to put small amounts into quality assets.

The company has also operated owner benefit programs and regional partnership initiatives that allow investors to directly experience the spaces and areas tied to their investments. It said it plans to expand the ownership experience beyond financial returns to include local business districts, place-based experiences and community participation, positioning that as a new model of shared-growth finance.

Chief Executive Officer Heo Se-young said the certification amounted to social recognition of the company's goal of creating a market in which more people can access asset ownership opportunities. He added that Lucentblock would continue building a safe and transparent, technology-based investment environment and a platform where investors, local communities and assets can grow together.

Lucentblock is also preparing to make another attempt to enter the STO distribution market. In February, South Korea's Financial Services Commission selected the Korea Exchange-Koscom consortium, or KDX, and the Nextrade consortium, or NXT, as operators of over-the-counter exchanges for STO distribution.