South Korea's ruling Democratic Party has proposed a bold initiative to elevate the KOSDAQ index to 3,000 by leveraging digital assets. The strategy, presented to President Lee Jae-myung, focuses on utilizing security tokens and a sovereign stablecoin to enhance capital access for startups and SMEs. This move aims to address liquidity challenges and foster a dynamic capital ecosystem.
The proposal includes Security Token Offerings (STOs) to digitize securities on a blockchain, offering efficiency and global investor access. Additionally, a won-denominated stablecoin is suggested to facilitate seamless settlements. The plan advocates for a competitive development framework, moving away from a bank-centric model, to encourage fintech innovation. This initiative aligns with global trends in digital asset regulation and seeks to enhance the competitiveness of South Korea's financial markets.
South Korea Proposes Digital Assets to Propel KOSDAQ to 3,000
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