Shinhan Investment & Securities said on Wednesday it signed a memorandum of understanding with Nextrade (NXT) and seven major fractional investment firms to cooperate on the issuance and distribution business, in line with the NXT consortium’s preliminary approval for an over-the-counter fractional investment exchange.

The agreement was 추진됐다 to help key participants in a future fractional investment distribution market build a value chain spanning issuance, distribution and settlement and create a productive finance ecosystem that supplies funding to innovative companies based on real assets.

The agreement brings together nine companies including Shinhan Investment & Securities and Nextrade, as well as Musicow (music copyrights), APanda Partners (loan receivables), Stockkeeper (Hanwoo cattle), Galaxia Moneytree (aircraft engines), Seoul Auction Blue (artworks), Sejong DX (real estate) and Together Art (artworks).

Through the agreement, the participants plan broad cooperation including joint reviews of business models, joint responses to legal and institutional changes, and joint promotion to invigorate the fractional investment market.

An official at Shinhan Investment & Securities’ digital assets division said, "This MOU and our account management track record built up so far are a key foundation for establishing stable market infrastructure ahead of the full implementation of the token securities system." The official added, "As a promoter and major shareholder of the over-the-counter exchange, we will contribute to creating a trusted digital asset ecosystem that connects issuance and distribution."