Copy link
Increase text size
Decrease text size
Link copied

Crypto exchange Upbit operator Dunamu to launch OTC trading platform for unlisted securities

Fri, 18 Oct 2019, 07:22 am UTC

Dunamu, the operator of South Korean cryptocurrency exchange Upbit, is planning to launch a comprehensive over-the-counter (OTC) trading platform for unlisted securities.

In a press release, the Kakao-backed firm said that the platform will be launched in collaboration with brokerage firm Samsung Securities and big data analytics company Deep Search by the end of October.

The one-stop platform will help resolve information asymmetry, enhance the security of transactions and lower the cost to investors, the Korea Herald reported.

Dunamu is responsible for planning and developing the platform. It will provide necessary information based on the experience gained from operating its existing stock trading app, “Stock Plus.”

Samsung Securities, on the other hand, is tasked with ensuring safe trading, while Deep Search will be responsible for discovering and analyzing new firms based on company information, news and patents over the past 30 years.

Dunamu said that the upcoming platform will not only provide a source of organized data about unlisted securities, but also facilitate communication between buyers and sellers, allowing them to confirm transactions and negotiate share price.

“Most unlisted stock transactions in South Korea are made via online community bulletin boards and offline trades, leading to uncertainties surrounding the parties’ identities and the information needed in the investment,” Lim Ji-hoon, Dunamu’s chief strategy officer, said.

“We will make efforts to provide an innovational investment for all unlisted stock investors and sellers by continuing the development of the platform based on our experience of operating Stock Plus.”

At the time of launch, the platform is expected to allow 4,000 firms to trade their unlisted shares. The three companies plan to introduce blockchain technology to the platform in the first half of 2020, which will help automate the entire process of verifying the identities and processing of the transactions.

Dunamu has invested $46 million in 26 companies over the past year as part of its 3-year plan to invest approximately $84 million into the blockchain industry. Earlier this year, it announced the launch of a consortium-based blockchain service platform Luniverse, which will help IT companies and start-ups to develop blockchain-based services that they lack resources to set up on their own.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,444.48 (-2.16%)
  • Ethereum (ETH) $230.30 (-4.96%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $239.15 (-4.11%)
  • Bitcoin SV (BSV) $192.50 (-4.01%)
  • Bitcoin (BTC) $9,444.48 (-2.16%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft