Bicell Standard, operator of the PIECE security token offering (STO) platform, said on Jan. 12 it signed a strategic memorandum of understanding with Hong Kong-based asset manager HongRui Group and global payments fintech firm KUN.

The agreement was signed in Beijing during an economic delegation schedule tied to the president's state visit to China. It aims to combine South Korea's real-asset tokenisation technology with real assets in Hong Kong and across Asia and global financial infrastructure to build a "digital asset value chain" spanning asset sourcing, tokenisation and global distribution.

Bicell Standard said the deal, together with its Singapore unit (BSFX) established in April last year, would create a bridgehead for entering Asia's digital asset market after building global payment infrastructure and a network in Hong Kong.

Under the agreement, the three companies will build a digital asset value chain that runs from "asset sourcing, tokenisation and global distribution". HongRui Group will supply real assets such as new energy and cultural tourism assets in Hong Kong and Asia, Bicell Standard will design digital asset products, and KUN will support cross-border distribution through its global payment infrastructure.

Bicell Standard is a multi-asset strategy firm that received business restructuring approval from the Financial Services Commission's Securities and Futures Commission. It supports the issuance of tokenised securities backed by various real assets such as scarce spot assets, artworks, ships and intellectual property rights (IP).

The three companies plan to start a pilot project in the first half of the year, followed by joint roadshows for global institutional investors in Hong Kong and Singapore in the second half.

Beomjun Shin, CEO of Bicell Standard, said, "With this agreement, we have secured Hong Kong's abundant real assets and proven global payment infrastructure." He said, "Based on South Korea's tokenised securities technology, we will build a complete ecosystem that runs from asset supply to tokenisation and global distribution, and present a new standard for Asia's digital asset market."