“The reason why in collaboration with the digital asset exchange market.”
“What is that place?”
It’s the story of the Queenbee Company that was issued at dinner. This company attracted attention once by talking over the stocks of investing platform company, CabBridge group located in Singapore, and once by a Korean actor, Bae Yong-Joon participated in the establishment. It is a natural response when the first business in the blockchain industry meets notable names.
President Lee Kang-Hyuck of Queenbee Company who we met at the WeWork in Kangnam on the 23rd said: “I wanted to notify what the works that have progressed recently.” It is an explanation, that based on his career as an HSBC asset manager and Ernest & Young manager, the company is building a bridge to Singapore’s digital asset market.
On that day, Block Inpress was able to hear the background information of Queenbee Company’s establishment, why it invested in CabBridge Group and the first button to get close to the blueprint.
Q. It was a big issue because of the actor, Bae Yong-Joon’s investment. Many are curious about the background information of the Queenbee company’s establishment.
We have not only president Bae Yong-Joon (who operated Keyeast) but also a visual design professor Kim Ki-Yung of Sookmyung woman’s university among our stockholders. Both of them have been interested in the blockchain or token whenever it appeared as a piece of sensational news since 2017. However, it was an atmosphere that companies in the domestic system could not consider at their discretion. As a result, together with president Bae, who was in an intimate relation, started with a need like ‘We would like to learn about Blockchain’.
Before establishing the Queenbee Company, I managed a consulting company that connects companies that require a global operation and not suitable for the domestic stock market to the Singapore Stock Exchange (SGX). During this time, Mohamad Ismail, vice president of SGX participated as an advisor. Mr. Ismail is currently assisting as a consultant of Queenbee Company with the ties.
At first, it was a mediator between Singapore and Korea. I looked into specific business models and token models as communication channels in the middle. Everybody decided that illegal issues shouldn’t happen, so they spent months trying to get a business model. As the workforce was eventually required more, the discussions were directed toward charging one part, and it would be easy to understand that the Three Point Partners’ work is now integrated into blockchain technology.
Q. It is also worth noting that the company has invested in CabBridge Group, which is an investing company in Singapore.
One of the subsidiaries of the CabBridge group is 1exchange. They introduce their platform by themselves as it started after receiving an official license for the first time in the world. It has a structure of depositing an asset in a trust, and it is traded into a digitized asset.
Another subsidiary, CabBridge is an investing firm which does free IPO funding before being listed on the Singapore stock market. In Singapore, it takes around 2.5 Billion ~3 Billion KRW when registering to the stock market. If a company already has a flow of money, it’s an option that you don’t have to receive. Instead, if the company has a business model that will be listed and drawn more capital, you can list it strategically. It is an investing firm for that.
Luckily in Singapore, there is a definition of digital asset and its guideline. There is a movement that the related laws can be passed through within this year. If there is a way to prove the value of an asset, the basic position is to tax according to government principles. It’s called principle rather than checking everything in detail. Furthermore, since the opportunities that are difficult to catch in Korea are open to the Singapore market, the cogwheels are right in establishing the base of the Queenbee Company, which provides consulting services for Singapore.
Q. Then, what kind of domestic companies would like to enter Singapore market through Queenbee Company?
In 1exchange, non-listed companies can register part of the stock. Therefore, the companies can secure their ownership in place and get their funds in. Also, the laws in Singapore are friendly to companies. There is no burden of gift tax, inheritance tax, financial tax, etc. There are also clauses on the initial establishment of a three-year tax exemption if certain conditions are met.
Singapore is a financial hub of Asia, comparable to Hong Kong, with companies from various nations. Global leading investment banks and venture capital firms are doing investing activities in this country. It will also be possible for domestic private companies to grow their global brands.
In the Korean Stock market, bio-related companies tend to receive high value when IPO. In that case, such companies are not necessarily come to Singapore. On the other hand, people prefer to invest in energy and logistics companies in Singapore. They have different atmospheres that invest in a genuine and visible business. Our prospective clients are companies that did not consider this opportunity because it is difficult to register in the domestic stock market, where there are major shareholder issues, and who want to do business in the global market.
Q. What is the role of Queenbee Token (QBZ) at this point? What is the meaning for individual investors?
It is more like between businesses (B2B) rather than a business and individual trade (B2C). The services Queenbee Company will offer are similar to Polymes, the Stock Type Token (ST) platform. While Polymes directly publishes, we do not offer stock token offerings (STO). Our goal is to provide consulting tools such as market and regulatory information or corporate valuations. Token usage is clearly stated as B2B.
In the future, the B2C platform can provide investment information to those who hold these tokens, provide global digital asset trends, and project information (potentially going to be progressed by the Queenbee Company). Also, once a legal environment at home and abroad is applied, it can be a direct and indirect link to the Singapore project.
You can also use crypto-funds that use the capitals raised through token listing as a source of revenue. It is not the existing form of crypto-funds, but own funds, and also considering the distribution of the revenue generated by the project by Queenbee Company Singapore to the token holders.
Fundamentally, we expect it will perform a similar role as Binance Coin (BNB). I would like to sat that we do not publish a stock type token, which means that it is not going to be a token that promises revenue. We would like to present a condition that only those who have the same level of identity as the financial industry can receive value reservation.
Q. You are currently working on preparation, and I wonder your plan onward.
Since then, starting with the wallet service and opening the access route in Korea in the long term, I think that it is necessary to manage the history and track the transaction within its platform. I know that it is useless saying about ‘what will we do’. So far, we have also invested in CapBridge equity to represent public confidence. Recently, the existing coin trade markets are trying to enter the digital asset market. However, even alternative trading system (ATS) license have not been acquired yet. Even if approved, there is a difference in credibility when a government agency participates in the audit rather than a single coin exchange.
After the end of the year, when the traditional financial markets are quiet, digital markets will become commonplace next year. We may feel the border between each market are breaking down. I would like to notify that the Token that we introduce is an asset that can reserve value. It is sometimes called as its nickname ‘Yonsama Coin’, but I hope the coin is not recognized with negative meaning.
In addition, if we are a scam, many people will be affected. Shareholders are also keen on tactile, and they are going through the process carefully. I would like to emphasize that a kind of value investing has been made in a new and irresistible financial market.