Korea Exchange launches Korea Startup Market using blockchain

The Korea Exchange (KRX) has launched a blockchain-based marketplace where equity in startup companies can be traded, called the Korean Startup Market (KSM).

The new feature will see its roll-out by implementing a blockchain platform called ‘Coinstack’, developed by Korean startup Blocko. With a focus on document and identity authentication, Coinstack is serviced both via cloud and on location, while supporting all protocols and applications build on the bitcoin blockchain.

“This is the first example of commercialization in which blockchain is applied to the Korean over-the-counter stock market. We are striving to advance our product by partnering with Samsung SDS, CISCO and others to apply blockchain to a wide range of industries in the future, beyond existing uses such as bonds, promissory notes and points within the financial sector,” said Blocko CEO Won-Beom Kim.

Korea Exchange (KRX) is South Korea’s sole securities exchange operator.