[DigitalToday reporter Ji-young Lee] The Korea Fintech Industry Association called for a swift decision on licensing an over-the-counter exchange for slice investment.

On Jan. 15, the association said in a statement that a licence for a slice investment distribution market is a key foundation for developing South Korea’s future digital finance ecosystem. It said market-opening delays caused by recent controversy must not lead to missing the golden time for a next-generation financial transition.

It said that since 2016, when the concept of slice investment began to be recognised, many slice investment companies have turned innovative underlying assets into financial products and created new funding channels across industries. It said institutional limits have left challenges such as liquidity provision and market activation. It said bringing slice investment into the institutional framework would be a major turning point that eases long-standing industry demand.

The association said many slice investment operators have staked everything on securing an OTC exchange licence out of a desire to revitalise the market, and it expressed concern that the decision to hold the licence in abeyance could push the entire slice investment industry toward a crisis.

Its Token Securities Council said it is concerned that slice investment companies that have long waited for market revitalisation through institutionalisation could end up letting go of their last strand of hope because of delays in opening the market. It said now is the time to quickly secure a stable distribution market, and to work for a fast market opening and revitalisation under fair procedures.