Shinhan Investment & Securities and US Fintech DwellFi Join Hands to Advance STO
Seoul, South Korea – Apollonia Capital has successfully facilitated a groundbreaking partnership between Shinhan Investment & Securities and the Silicon Valley-based fintech company, DwellFi . This collaboration aims to accelerate the development and institutionalization of security token (STO) products, positioning Shinhan as a leader in the burgeoning STO market.
On July 19th, DwellFi announced its partnership with Shinhan Investment & Securities, marking a significant step towards innovating STO services. The partnership will leverage both companies' expertise and networks to develop new STO services and expand the market. It will also focus on ensuring regulatory compliance and exchanging technical knowledge to foster market growth.
"We are excited to partner with an innovative financial institution like Shinhan Investment & Securities to bring STO solutions to the market,” said Kuma Ujjwal, CEO of DwellFi. “By combining our technological edge with Shinhan’s financial expertise, we aim to provide the best service to our customers.”
STOs are a method of raising funds by issuing digital tokens linked to tangible assets such as stocks, bonds, real estate, gold, and artwork. This method offers an innovative approach to asset securitization, combining the traditional securities market with the flexibility and efficiency of blockchain technology.
The Korean government is actively promoting the institutionalization of the STO market. Financial authorities are setting the stage for the issuance and distribution of STOs, allowing the independent issuance of security tokens without the necessity of a securities company under specific conditions. This regulatory shift is expected to intensify competition in the STO space.
Shinhan Investment & Securities has been at the forefront of the STO innovation, being designated as the first to offer an STO innovation financial service in December 2022. This service is a blockchain-based platform for trading monetary bond trust income securities. Shinhan is also enhancing its core capabilities by integrating blockchain technology with traditional securities company account systems. In the following year, Shinhan established the STO Alliance to create a robust ecosystem involving financial and technology companies and issuers.
In addition to this partnership, Shinhan joined forces with KB Securities and NH Investment & Securities in September last year to form a token securities consortium, aiming to collaboratively enter the STO market. This consortium plans to expand their collaborative efforts to include the exploration of strategic business models beyond the establishment of joint infrastructure.
About Apollonia Capital
Apollonia Capital is a leading investment firm specializing in facilitating strategic partnerships across diverse sectors. With a focus on innovative financial solutions and technological advancements, Apollonia Capital is committed to enhancing global financial infrastructures and fostering sustainable economic growth.
About Shinhan Investment & Securities
Shinhan Investment & Securities is a premier investment services firm in South Korea, leading innovations in financial products and services across the securities industry.
About DwellFi
DwellPie is a pioneering US-based fintech company specializing in the development of advanced financial technologies that integrate blockchain for a wide range of applications, including security token offerings.
