Korean company Pinola Global will build a security token (STO) platform that operates in accordance with the law and officially launch the service in March.
Pinola Global is a member of the Bataan Free Economic Zone Authority (AFAB) announced on the 10th that it is conducting final due diligence on digital asset exchanges and STO platforms after visiting Korea on the 9th. This due diligence was conducted on a platform jointly built by Pinora Global and Pinora Technology, a local operating corporation in the Philippines.
AFAB plans to issue Overseas Digital Asset License (ODAL) Class 1 and Class 2 through a resolution of the Board of Directors in February after completing the due diligence. ODAL Class 1 allows the trading, storage, and transfer of digital assets and foreign exchange transactions, while Class 2 allows the issuance of security tokens (TGE), public offerings of virtual assets (ICOs), and the operation of fractional investment securities platforms.
Pinola Technology is a duly registered entity with the Philippine Securities and Exchange Commission (SEC) and is designated as a local service provider for digital assets by the Bataan Free Economic Zone Authority. The company obtained ODAL Class 1 and 2 provisional qualifications at the end of last year.
Msquare Global, a major shareholder of Pinola Global participated in the construction and operation of the platform, providing technology and operational know-how across digital asset issuance, distribution, and trading.
AFAB Commissioner Mohammed Pangandaman said, "We have high expectations for the first legislated STO system in Asia," and "we plan to issue a formal license in February." Choi In-sun, global CEO of Pinola, said, "AFAB's ODAL is a system that operates at all times in accordance with the law," and "it legally implements digital securities transactions linked to real assets."
Through this platform, Pinola Global plans to provide digital financial infrastructure that global investors from the United States, the Middle East, and ASEAN can participate in without conflicting with Philippine capital market regulations.
