ICON developers presented a new standard for tokenized assets on the blockchain

The Korean project ICON presented the specification of tokens IRC16, which will allow third-party market participants to develop assets and securities on the blockchain. This is stated in the press release of the company .

The standard allows tokenisation of various real assets, while observing the requirements of regulators.

So, checking the ability to transfer a token allows you to screen the sender or recipient who did not undergo the KYC / AML procedure. Control of the token by the operator protects against fraud and loss of private keys.

In addition, a tokenized asset can be sold in parts as separate tokens, which increases liquidity by increasing the number of investors.

The IRC16 standard has already been added to the ICON public blockchain.

Recall that in late February, the parent company ICON denied information about plans to hold an IPO on the KOSDAQ stock exchange.

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