SK Securities Partners with Kasa Korea to Tokenize Real Estate

Asia Blockchain Review
September 15, 2019
SK Securities Partners with Kasa Korea to Tokenize Real Estate

SK Securities, a South Korean stockbroker and financial services provider, has announced its partnership with startup company Kasa Korea, developer of a blockchain platform for tokenizing real estate.

Investing in Real Estate with Blockchain

According to Ledger Insights, the two companies revealed that they will be jointly developing the ‘Digital Real Estate Beneficiary Distribution Platform’ service.

Prior to the partnership, Kasa Korea was developing a blockchain platform that can issue digital asset-backed securities (DABS) using real estate as collateral. The startup was also granted a special exemption from South Korea’s Financial Services Commission to carry out a trial offering real estate certificates to investors through its blockchain platform.

In a finance market, those looking to invest in real estate would most likely put their money into real estate investment trusts (REITs); however, blockchain technology has the potential to offer a more secure way to invest in real estate securities from anywhere in the world.

Providing an Alternative for Property Investment

Kasa Korea disclosed it will also retain custody of the physical property documentation as it issues digital certificates. Kasa said its blockchain platform serves to safeguard the authenticity of the certificates while also allowing for higher liquidity for real estate securities.

SK Securities said it is jointly working with Kasa Korea to offer its customers a linked account opening service. 

“We will provide valuable investment alternatives through collaboration with Kasa Korea, which is noted for its innovative services,” an official from SK Securities said in a statement.

Source: https://www.ledgerinsights.com


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