The operator of the South Korean token securities platform PIECE, Bycell Standard, has completed a 40 billion won Series A funding round.

Techub News reported, according to Newsis, that Bycell Standard, the operator of the Korean security token offering (STO) platform PIECE, has completed a 40 billion won (approximately $2.7 million) Series A funding round. The round saw participation from institutions including the Xperix Group and S&S, with the Xperix Group becoming its primary strategic shareholder. The new funds will be used for the acquisition of underlying assets for new products, talent recruitment, and the application for an investment intermediary license. Bycell Standard is one of the seven multi-asset issuers approved for business restructuring by the Securities and Futures Commission of the Financial Services Commission of Korea, and is also a member of the KDX alliance, which has obtained preliminary approval.