Tessa, Stockkeeper Sign Pact to Build IXO-NET Ledger for Tokenized Securities

Tessa, which runs fractional investment businesses in art and solar assets, and Stockkeeper, operator of the Korean beef cattle investment platform Bankcow, signed a framework agreement to cooperate on building IXO-NET, a distributed ledger network for issuing tokenized securities, the companies said on August 26.

Under the agreement, Stockkeeper will join IXTO, Tessa’s tokenized securities management solution, and IXO-NET, its blockchain-based distributed ledger network. IXTO and IXO-NET were validated in an institutional connectivity environment through the Korea Securities Depository’s tokenized securities testbed in 2024.

The companies plan to build issuer-focused tokenized securities infrastructure based on their experience designing and issuing fractional investment products. Tessa started with fractional art investment and has recently expanded into renewable energy assets, including solar power plants. Stockkeeper is pursuing tokenized securities tied to livestock assets through Bankcow, its Korean beef cattle fractional investment platform.

Tessa’s tokenized securities infrastructure consists of IXO, a public offering management solution for new forms of securities, IXTO, a tokenized securities management solution, and IXO-NET, a distributed ledger network for tokenized securities. IXO supports the public offering process, including subscription, allocation, management and redemption. IXTO can work with both securities firms and issuers serving as account management institutions. IXO-NET links those solutions through a tokenized securities distributed ledger network.

Tessa has completed development of a pilot service system ahead of the planned implementation of tokenized securities legislation in February 2027. Stockkeeper plans to use the infrastructure to join IXO-NET and later pursue tokenized securities issuance backed by a range of real-world assets, including livestock assets.

"With Stockkeeper joining IXTO and IXO-NET, which were validated through the Korea Securities Depository testbed in 2024, we can now demonstrate a structure in which different underlying assets are issued on the same network," Tessa Chief Executive Officer Kim Hyung-jun said.

"Now that we can focus on issuance on top of proven infrastructure, we will contribute to bringing a wider range of real-world assets into the regulated tokenized securities market beyond livestock," Stockkeeper Chief Executive Officer Ahn Jae-hyun said.

The two companies plan to further define the network’s operating model, node participation structure and the standardization of issuance procedures. They also intend to keep the structure open so that other issuers with a range of underlying assets can participate in IXO-NET.