According to Golden Finance, amid the dynamic changes in South Korea’s financial market, a strategic adjustment plan of Mirai Asset Securities in South Korea has drawn much attention. It is considering spinning off its digital asset business to establish an independent company. If this plan is implemented, it will stir up new waves in South Korea’s financial and digital asset sectors.
The digital asset solutions team within Future Asset Securities, formerly known as “Digital Asset TF”, is expected to become an independently operating entity. Since its establishment, this team has been dedicated to exploring business opportunities in the digital asset field. Currently, it is mainly responsible for tokenized securities (STO) and virtual asset-related businesses. Under the current business architecture, the digital asset solutions team has achieved certain accomplishments and emerged as a leader in the industry.
The key factor that prompts Future Asset Securities to consider spinning off its digital asset business lies in the current regulatory framework in South Korea. The Capital Market Act of South Korea clearly stipulates that financial investment companies are not allowed to engage in businesses other than financial operations. Virtual assets, due to their unique nature, are subject to the “Virtual Asset User Protection Law”, which is completely different from the regulatory path of traditional financial businesses. This regulatory difference makes Future Asset Securities face compliance challenges if they want to further expand their digital asset business. Spin-off to establish an independent company has become a feasible way to bypass this regulatory obstacle and promote the development of digital asset business.
It is worth noting that Future Asset Securities has made in-depth technological layouts in the field of token securities and completed the construction of multiple core technologies. The company independently developed a blockchain and built the main network for token issuance and circulation, providing a solid underlying technical support for the issuance and trading of tokenized securities. Meanwhile, the company is also actively promoting the integration with the Mobile Trading System (MTS). Once the integration is completed, it will significantly enhance the convenience and efficiency of token securities trading, enabling investors to participate in token securities trading more conveniently through mobile terminals and further expanding the business coverage and user base.
Regarding this plan, Future Asset Securities stated that it is currently in the initial review stage of measures such as business expansion and spin-offs. At this stage, the company will comprehensively consider many factors, including market demand, regulatory environment, business synergy, as well as potential risks and returns, etc. Future Asset Securities needs to assess the competitiveness of the independent company after the spin-off in the market, how to achieve sustainable development under the premise of compliance, and how to maintain a good business cooperation relationship with the parent company, etc.
From a market perspective, if this plan is eventually implemented, it will have multiple impacts on the South Korean digital asset market. On the one hand, independently operated digital asset companies may focus more on innovation and expansion in the digital asset field, launch more products and services that meet market demands, inject new vitality into the South Korean digital asset market, and promote its further development. On the other hand, it may also prompt other financial institutions within the industry to follow suit, prompting the South Korean financial market to diversify its layout in the digital asset sector, intensifying market competition, and thereby promoting the continuous optimization and upgrading of the entire industry. Subsequently, the market will closely monitor the progress of the Future Asset Securities Digital Asset business spin-off plan.
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