LucentBlock signs agreement with KakaoBank..."Moves to popularize STO"

LucentBlock, which operates 'Soyu', a real estate tokenized securities (STO) platform, announced on the 31st that it has signed a memorandum of understanding (MOU) with internet-only bank KakaoBank to expand public access to the new securities market and build a safe infrastructure.

Through this agreement, the two companies plan to ▲ promote projects to expand public access to the new securities market ▲ propose and collaborate on improvements to build a safe infrastructure for the new securities market ▲ provide information on new securities and support educational content for each platform's users and investors.

LucentBlock has been operating 'Soyu', a real estate fractional investment platform that combines blockchain and electronic securities infrastructure, since it was designated an innovative financial service by the Financial Services Commission in 2021.

Heo Se-young, CEO of LucentBlock, said, "Cooperation with KakaoBank will be an important opportunity for the new securities market to spread to the public," and "based on LucentBlock's technological capabilities and experience, we will contribute to building a transparent and safe STO ecosystem."

Song Ho-geun, Head of Investment and New Business Group at KakaoBank, said, "New securities are being recognized as a new financial area that opens the era of digital assets," and "KakaoBank will continue various collaborations so that customers can access digital assets easily and conveniently as an investment platform."