Tag: Investments

Kakao to Record Private Securities on Its Own Blockchain as NFTs
Crypto News

Kakao to Record Private Securities on Its Own Blockchain as NFTs

South Korean internet giant Kakao’s blockchain arm Ground X is now storing and verifying unlisted investments as nonfungible tokens (NFTs) on its public blockchain.Unlisted investments are shares of startups that are offered to investors for purchase prior to a public offering. Since these securities are not listed on formal markets, they are traded over the counter (OTC).South Korea’s OTC trading market is growing: the country’s OTC exchange K-OTC ended 2020 with a record-high market capitalization of over 1 trillion won ($1.1 billion) since its launch in 2014. Foreign investors can also buy and trade OTC shares in South Korea. In 2018, South Korea amended its tax laws to exempt foreign investors from capital gains taxes on transfers of both listed and unlisted stocks.Gr...