Polymesh and leading Korean digital asset custodian BDACS have signed a Memorandum of Understanding to launch an innovative security token project with a focus on K-culture.
Premier blockchain platform Polymesh and leading Korean digital asset custodian BDACS have signed a Memorandum of Understanding, establishing a strategic collaboration to launch an innovative project harnessing the global appeal of K-Culture and the power of security tokens on the Polymesh network.
This groundbreaking collaboration aims to highlight the transparency, efficiency, and compliance advantages of security tokens issued on the Polymesh network while elevating and promoting K-Culture. In addition, by bringing together fans, artists, producers, and investors, the project will unlock new engagement opportunities and propel the adoption of security tokens in Korea and around the world.
"We are thrilled to collaborate with BDACS, a leading digital asset custodian in the Korean market, and leverage our mutual expertise in the digital asset industry to expand the global reach of security tokens," said Will Vaz-Jones, Head of Partnership Development at the Polymesh Association. "Security tokens on Polymesh have the potential to revolutionize the K-Culture industry, and we're proud to lead this innovation and provide the base-layer infrastructure to such a transformative project," Vaz-Jones added.
Harry Ryoo, Co-CEO and Co-Founder of BDACS, emphasized the global fascination with K-Culture, stating that “K-Culture has captured the attention of audiences around the world. We believe this collaboration will help showcase the many benefits that security tokens created, issued, and managed through a digital asset custodian can offer to key stakeholders in the K-Culture industry.”
The project will be designed to comply with regulatory requirements in Korea through a regulatory sandbox, ensuring the highest security and transparency standards. Terry Kim, Co-CEO and Co-Founder of BDACS, expressed, "Polymesh and BDACS will collaborate closely with regulators and industry experts to establish new benchmarks for security tokens and digital asset custody, driving blockchain innovation in Korea and beyond."
This collaboration marks a significant milestone for blockchain technology and the application of security tokens, propelling the growth of industries like K-Culture. The project is slated for a launch later this year, with further details to follow.
Polymesh is an institutional-grade permissioned blockchain built specifically for regulated assets. It streamlines antiquated processes and opens the door to new financial instruments by solving challenges around governance, identity, compliance, confidentiality, and settlement.
Visit polymesh.network to learn more.
BDACS is a Korean digital asset custodian that provides a range of services to companies seeking to enter the digital asset market. BDACS specializes in digital asset custody, market access, trade support, regulatory compliance, and other critical areas of the digital asset ecosystem.