On the 25th, Yeolmae Company announced that the Securities Token Offering (STO) Securities Report No. 3-1, 3-2, and 3-3 will take effect on the 28th. Yeolmae Company is an art sculpture investment platform operator that has adopted the account-based payment solution of fintech company Hecto Financial as its payment method.
According to the company, the underlying asset of this third security is three drawings by artist Yoshitomo Nara. This is the first time that three art investment contracts have been issued in a combined manner. The total combined offering amount is 700 million won.
Starting from the 29th, Fruit Company will begin accepting subscriptions for No. 3-1 for five days, and will then sequentially accept subscriptions for No. 3-2 and No. 3-3 until the 13th of next month. The payment due dates are also the 4th to 5th, 11th to 12th, and 18th to 19th of next month, respectively, for each security.
Unlike other art sculpture investment platforms that have adopted securities accounts as their payment method, Yeolmae Company, the first domestic STO issuer, has adopted the account-based payment solution of electronic finance company Hecto Financial.
When paying for STO issuance through Hecto Financial's account-based payment solution, there is no need to open a separate securities account, which can be expected to have the same effect as investors' convenience in payment methods and issuers' reduction in issuance costs.
Meanwhile, STO is a financial service that issues real assets in the form of blockchain-based tokens and allows for investment in the form of piecemeal investments. Assets can be issued and invested in piecemeal based on specific assets such as art and real estate.
