DB Securities Signs MOU With Optimism for Jeju STO, RWA Business

DB Securities said on July 15 that it signed a memorandum of understanding with the Optimism Foundation to advance Jeju-focused security token offering, or STO, and real-world asset tokenization, or RWA, businesses and explore domestic and overseas collaboration models.

The signing ceremony was held at the Optimism Foundation’s headquarters in Manhattan, New York. Attendees included Kyle Zenk, the foundation’s chief business officer, and Lee Ju-sik, head of DB Securities’ digital asset business team.

The companies plan to combine Optimism’s blockchain infrastructure with DB Securities’ underwriting and placement capabilities in tokenized securities to jointly develop STO and RWA business models in South Korea and abroad.

As a first project, they will pursue a platform to tokenize smart farms, livestock assets and K-content intellectual property in the Jeju region.

Lee said the agreement with Optimism, whose technology is used by global platforms including Coinbase and which also partners with Upbit, would help bolster the credibility and stability of South Korea’s STO and RWA businesses.

He added that DB Securities aims to combine optimal technology in Jeju to establish itself as a leading institution in South Korea’s market for underlying assets for tokenized securities and deliver tangible business results.