Shinhan Securities, Stockeeper to cooperate on STO

South Korea's Shinhan Securities announced on Friday that it signed a memorandum of understanding (MOU) with Stockeeper on Thursday to promote a security token offering (STO) business focused on livestock investment.

Stockeeper operates the Hanwoo (Korean beef) fractional investment platform Bankcow and its own Hanwoo brand Honest Beef.

The company issued the nation's first livestock investment contract securities based on Hanwoo as the underlying asset.

This product achieved a 100% subscription rate in just four days, with a final subscription rate of 208%.

Under the MOU, Shinhan Securities will participate as the custodian for Stock Keeper's livestock investment contract securities and provide fractional investment account services.

Shinhan Securities also operates a tailored integrated solution called Project Pulse for fractional investment operators, in collaboration with SK Securities Co., Blockchain Global, and law firm Lee & Ko.

Write to Han-Gyeol Seon at always@hankyung.com