WEMIX(WEMIX) Strategic Investment in Kasa

Subject

Strategic Investment in blockchain-based proptech startup Kasa

Details

Wemade made a strategic investment in Kasa, a blockchain-based proptech startup. Proptech, short for property technology, is the application of information technology and platform economics to the real estate market. Wemade has been actively investing in the blockchain industry.

Kasa is a dedicated platform for trading DABS (Digital Asset-Backed Securities), where participants can make micro investments in commercial buildings. A 5,000 KRW investment can buy a share of DABS, and investors can receive quarterly dividends, and potential capital gains, should the building ownership change hands.

Kasa, founded in April 2018, qualified as an \"Innovative Financial Service\" by the Financial Services Commission. After closing the inaugural public offering with Yeoksam Londonville in November 2020, the company recently closed its third public offering with Korea Technology Center.

Recently, Kasa obtained the Capital Market Service(CMS) and secondary trading licenses from the Monetary Authority of Singapore(MAS), and aims to establish an exchange in Singapore in the first half of 2022.

Applicable Date(s)

2021-12-15