Mirae Asset, music profit-sharing startup take on security token offerings

South Korea's Fingo Company, which runs the music revenue sharing platform Fingo, on Friday said it signed a memorandum of understanding (MOU) with Mirae Asset Securities to expand and stabilize security token offering (STO) and fractional investment services.

Fingo allows users to buy and return sound source products on a platform that shares the sound source revenue of famous musical acts or the soundtracks of popular dramas.

The service recently became the first on the domestic market for fractional investment in music to receive the certification for information security management systems from the Korea Internet & Security Agency, including that for an "innovative growth type" by the Ministry of SMEs and Startups.

"Through this MOU with Mirae Asset Securities, close collaboration between the two companies is expected to enable synergy in stabilizing and revitalizing the markets for STO and fractional investment," a Fingo source said.

"As well as streamlining our Fingo service, we plan to develop and launch with Mirae Asset Securities innovative financial investment products under the government's guidelines and regulatory system."

Write to See-Eun Lee at see@hankyung.com