Problem
Tokenized securities don't trade.
Not for lack of buyers. The token standard only checks one thing: whether a balance may move from one wallet to another. It says nothing about the trade itself. Which venue, what size, which counterparty, and whether all of that is still allowed at the moment of settlement.
There is no shared standard for that question. So every venue answers it in its own code, every issuer runs a closed market, and liquidity stays locked inside it.
Checked by the token standard
- Wallet is on the identity registry
- Required claims are present
- Balance may move from A to B
Left to each venue
- Which venue, and is it approved for this asset
- What size, and is it within the investor's limit
- Which counterparty, and is it authorized
- Has the holding period ended
- Is all of that still true at the moment of fill
Solution
One pool, with the rules built in.
Corner Store lists any tokenized security with its trading rules attached, and enforces those rules on every fill. Issuers don't need a venue of their own. Buyers don't need an account per issuer.
Liquidity that would split across closed markets pools in one place.
Today
Each issuer builds a venue. Each buyer opens an account per issuer. Liquidity splits.
With Corner Store
Issuers list once. Buyers sign up once. Liquidity pools once.
Team
Legal and engineering, in one team.
Corner Store is built by crypto lawyers licensed in Korea and the United States, together with engineers from Decipher, the blockchain research society at Seoul National University, Korea's top university.
The rules are written by people who argue them in front of regulators. The code is written by people who ship on mainnet.