South Korean financial authorities set a retail investor limit for token-securities over-the-counter trading ahead of the system’s launch in February next year, capping annual net purchases at 10 million won per exchange. The scope of token-securities issuance will expand from fractional investment securities to include conventional securities such as stocks, bonds and funds. Regulators will also broaden licensing categories for OTC venues and spell out registration requirements for issuer account managers and distributed ledgers.

Shinhan Investment Corp. will work with Blueward and the Lotte Future Strategy Research Institute to build business models for content-based fractional investment and token securities. The three parties signed a memorandum of understanding on joint projects, Shinhan Investment said on Tuesday. The agreement runs for three years from the signing date. They plan to jointly review models, link account management and issuance systems, and respond to legal and institutional changes.