DB Financial Investment said on Thursday it signed a strategic memorandum of understanding with the Solana Foundation, a global public blockchain platform, on building a digital capital market based on security token offerings (STO).

DB Financial Investment is actively working to identify underlying assets for STOs, focusing on various types of real and income-generating assets. It is building a product framework that links structuring, fundraising and investor recruitment through collaboration with its investment banking organization.

It said it is making practical preparations for the business with the aim of launching STO products that can be distributed in the market.

DB Financial Investment plans to attend the global blockchain event "Solana Accelerate APAC" to be held in Hong Kong on Feb. 11. It is set to briefly introduce to the global market the direction and business structure of its STO cooperation with Solana.

Lee Joo-sik (이주식), head of DB Financial Investment's digital asset new business promotion team, said, "We are simultaneously pushing forward the discovery of underlying assets and financial structuring in connection with the IB organization." He added, "We are executing a two-track strategy: in South Korea, we pursue realistic products that fit within the institutional system, and overseas, we review a business structure targeting the global market through technical cooperation with Solana."