Koscom to Verify Technology for Tokenized Securities Settlement System Utilizing Stablecoins

Koscom announced on the 18th that it is promoting a Proof of Concept (PoC) for a tokenized securities settlement system utilizing stablecoins. This move is in preparation for the expected activation of stablecoin issuance and circulation in the domestic capital market.

Specifically, Koscom plans to verify a structure in which stablecoins are used as a means of payment in the subscription and distribution process of tokenized securities. The company explained that it aims to confirm whether a stable and reliable payment system based on digital currency can be implemented in the capital market through an 'Atomic Settlement' method where settlement and clearing occur simultaneously.

Koscom stated, "The purpose of this PoC is to establish a trustworthy link between the traditional capital market and the digital asset ecosystem by applying fiat currency-linked stablecoins," and added, "It is expected to contribute to securing foundational technology that aligns with the future policies of the government and financial authorities."

Koscom plans to carry out the PoC through the end of the year and verify the technical feasibility of a stablecoin-based payment system. Based on the verification results, the company aims to develop plans for establishing the infrastructure required for the digital transition of the capital market.

Kim Seong-deok, Head of the Digital Business Division at Koscom, said, "It is meaningful in establishing the technological foundation for the safe and organic integration of digital assets and traditional finance," and added, "This is a strategic effort to pre-design and prepare capital market infrastructure in anticipation of the introduction of stablecoins."

Reporter: Kim Chae-young chaechae@wowtv.co.kr