At the 2019 Blockchain Convergence Summit: Chain Plus+, in Seoul, Korea, hosted by MTN and Chainers, an International Cooperative Organisation for Security Token Offerings (STOCOOP) was launched.
The event was attended by Korean Government officials, along with representatives of the Financial Services Commission of South Korea. The Gibraltar Stock Exchange attended the event, along with a range of other local and international companies, including Lambda, WaykiChain, Cloudflare, EBC Foundation, MyToken, ChartIQ, and many more. Around 2,000 participants attended the two-day event.
About the International Cooperative Organisation for Security Token Offerings (STOCOOP)
During the Summit, representatives from GSX Group, OpenFinance, Vision Creator, and The Cabin Capital cut a ceremonial ribbon to mark the launch of the international Cooperative Organisation for Security Token Offerings (STOCOOP). The four founding organisations are pioneering leaders within the growing security token industry and will form the integral core of the STOCOOP.
STOCOOP will become the first multilateral, non-governmental organisation to focus on the development of security tokens. Through a range of business collaborations, the membership of the STOCOOP consists of 10 organisations focused on security tokens, from the USA, Canada, China, and the UK, amongst others.
David Wang, Executive Director of the GSX Group, participated in the ceremony, commented on the launch, stating:
“With STOCOOP, we have the potential to influence and shape the development of the global financial industry, how they adopt tokenised securities and the technology that drives them forward. The ethos of the GSX Group has been to transform the capital markets. The STOCOOP provides us with collaborative strength, internationally, to influence real change and real-world solutions.”
Huang Hai Guang, Founder of The Cabin Capital, also commented on the launch saying:
“STOCOOP will provide education, business collaboration, and communication for the security token industry. It will make efforts to cut down the cost for global SMEs and contribute to building a regulated and efficient international fundraising environment.”
The STOCOOP is now encouraging additional firms from the emerging security token industry, who share the values, ethos and direction of STOCOOP, to join the organisation. The STOCOOP’s vision is to focus efforts and pool its collective resources to establish institutional-grade standards and build a better security token industry.