South Korea's SK C&C announced on Tuesday that it will supply its blockchain service platform ChainZ Security Token (ChainZ ST) to build the system for the security token offering (STO) of Hana Securities.
ChainZ ST is a service that allows users can access and use ChainZ Mainnet with an application programming interface (API) and develop various blockchain-based applications through ChainZ API Service without directly accessing blockchain.
Based on the ChainZ ST, SK C&C will support token subscription, allocation, and distributed ledger technology (DLT) services for issuers on the Hana Securities STO system.
Additionally, it will introduce security token services for investors including order acceptance, purchasing, and selling.
SK C&C also provides surveillance functions to monitor the smooth issuance and distribution of Hana Securities' securities token and market conditions.
In June this year, Hana Financial Group joined the security token consortium Next Finance Initiative (NFI) to lead the formation of an ecosystem in the up-and-coming sector.