Korean financial services company and stockbroker
SK Securities announced a partnership with blockchain startup Kasa Korea which is developing a platform for tokenizing real estate. They plan to collaborate on the ‘Digital Real Estate Beneficiary Distribution Platform’ service.
Kasa Korea has been working on building a blockchain platform to issue digital asset-backed securities (DABS) with real estate as the collateral. It was recently given a special exemption by South Korea’s Financial Services Commission to sell
real estate certificates to investors through its blockchain platform, albeit on a trial basis. Earlier in May, the Financial Services Commission designated Kasa Korea as an innovative financial service business, South Korea’s
Yonhap News reported.
Traditionally, investing in real estate was possible only for those who could afford to invest significant sums. To address this issue, real estate investment trusts (REITs) were created to allow ordinary investors a chance to invest in real estate.
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