ITsenGlobal Verifies KGLD Pilot Issuance and Redemption, Focuses on Securing Trading Market
IT DAILY ·
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ITsenGlobal announced on the 28th that it had completed building the issuance and redemption system for KGLD, a gold-backed real-world asset (RWA) token.
KGLD has completed a pilot issuance, physical gold redemption, and technical and operational verification.
ITsenGlobal is currently in talks with multiple domestic and overseas exchanges over KGLD listings, and is reviewing the timing of the official service launch in connection with exchange listings.
On the 28th, ITsenGlobal announced that it had completed building the issuance and redemption system for K-Gold (KGLD), a gold-backed real-world asset (RWA) token. ITsenGlobal conducted a pilot issuance of KGLD and also carried out redemption in physical gold. The company also said it had completed technical verification related to KGLD as well as operational verification related to KGLD.
As a result, ITsenGlobal said the task for its KGLD business has shifted from token issuance itself to securing a distribution market where ordinary users can actually access and trade the token. The company said it is currently in talks with multiple domestic and overseas exchanges over KGLD listings, and that the timing of the official KGLD service launch is being reviewed in connection with exchange listings.
ITsenGlobal said it is pursuing KGLD as a digital gold asset that can be used in both the domestic and global markets. It also said it is working to refine the issuance and operating structure in light of domestic and overseas virtual asset regulatory and policy environments and future global distribution. In addition, the company said it plans to build a structure that can respond to global markets, including by establishing overseas bases, while maintaining the physical gold backing and redemption system.
ITsenGlobal is laying the groundwork for securing market liquidity for KGLD. To this end, it is preparing a structure that allows institutional investors and professional operators to participate in KGLD issuance and purchases, while supporting financial institutions and AI-based financial services in checking and using key information such as reserve asset status and redemption terms. The target technology and operating system is “agentic RWA,” and ITsenGlobal is advancing that technology and operating system.
KGLD is positioned as a central pillar of ITsenGlobal’s Web3 strategy. Rather than creating a separate blockchain business, the structure is based on the sourcing, refining, and distribution capabilities for physical assets secured by the Korea Gold Exchange. The structure digitizes physical assets and then expands them into RWA, security token offering (STO), and other digital asset businesses and revenue streams. The company describes this as a flow of securing physical assets -> digitizing them -> using digital assets -> connecting them to institutional finance and distribution.
A role-sharing system among the group and its affiliates has also been built for this framework. Korea Gold Exchange handles sourcing, refining, and distribution of gold-centered physical assets as well as the infrastructure for physical fulfillment, while Korea Gold Exchange Digital Asset is responsible for the platform, technology, and operations for digitizing physical assets such as KGLD. Creder is in charge of the on-chain and DeFi utilization areas of blockchain-based RWA.
Galaxia F&E has been laying the groundwork for an institutional STO business, including obtaining approval for a securities-beneficiary investment brokerage business, after securing majority shareholder status last August. Galaxia F&E plans to expand its role into the productization and structuring of physical assets and into institutional distribution.
In preparation for KGLD’s overseas expansion, the company is first pushing ahead with establishing overseas business bases and strengthening the KGLD business structure. It then plans to make the token public after the KGLD ecosystem has been solidified. An ITsenGlobal official said KGLD has completed verification from issuance through redemption in physical gold and that there are no problems with business operations. The official added that the top priority at this stage is to properly open a market where users can trade and use the token, and that the company plans to make KGLD public after reinforcing a structure that also takes the global market into account.
Accordingly, the schedule for the official market launch of KGLD will be adjusted from the original plan, and the listing schedules on domestic and overseas exchanges will also be adjusted from the original plan. However, procedures related to KGLD are continuing. The specific exchange listings and listing timetable have not yet been finalized, and the company said it will provide guidance once they are confirmed.
Source: IT DAILY · Yang Seung-gap
Original: https://www.itdaily.kr/news/articleView.html?idxno=241873
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Source: IT DAILY
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