Korean STO Platform PIECE Secures $2.7 Million in Funding

Bycell Standard, the operator of the South Korean token securities (STO) platform PIECE, has successfully raised 4 billion Korean won (approximately $2.7 million) in a Series A funding round. According to Foresight News, the investment was led by Xperix Group and S&S, with Xperix Group becoming the main strategic shareholder. The newly acquired funds will be allocated towards acquiring new product base assets, recruiting talent, and applying for investment brokerage licenses. Bycell Standard is one of seven multi-asset issuers approved for business restructuring by the Securities and Futures Commission of the Korean Financial Services Commission. It is also a member of the KDX Alliance, which has received preliminary licensing.