Cardo and Blade Entertainment Join Forces in Tokenized Securities Sector

Blade Entertainment, a South Korean entertainment production company, has announced that it has sealed an agreement with Cardo, a provider of custodial services for digital assets, to launch a tokenized securities enterprise. Newspim, a local news source, reported on this on Wednesday. The firm intends to utilize its IP and content distribution privileges to create tokenized securities that are based on assets like unused landfills, electronic medicinals and digital therapeutic treatments. Choi Young-in, head of the STO (security token offering) department at Blade Entertainment, affirmed that they will make every effort to reach the top in tokenized securities. Through this deal, they will collaborate with Cardo, a company with both experience in blockchain and expertise in finance, to list their tokenized securities in the KRX's (Korea Exchange) new securities market. The FSC recently designated an on-exchange market for new securities with fractional investments as a service under the South Korean government's financial regulatory sandbox system. This distinction allows the companies releasing new products and services to be exempt or suspended from existing regulations, with the understanding that any issues will be regulated post-mortem. The news was announced in a press release on Dec. 13. Blade Entertainment expressed its intent to join forces with Cardo for this endeavor, due to the firm's comprehensive understanding of the blockchain domain and its prior successful partnerships with firms such as Galaxia Moneytree in the realm of security tokens. Cardo's investors are comprised of some of South Korea’s premier banks, including Nonghyup Bank. Sohn Kyung-hwan, CEO of Cardo, expressed that, considering the current struggle with the valuing of token securities, it is not easy for companies in the field to do business efficiently. He went on to state that, with the knowledge gathered from the two contracts they signed this year to provide security token systems, they plan to assist Blade Entertainment with the planning, design, and establishment of a platform for their security token projects, so that they will be able to enjoy a successful service.

Source: https://medium.com/@coinness.gl/blade-entertainment-partners-with-cardo-to-venture-into-tokenized-securities-industry-b3bc206c182a?source=rss------fintech-5