WITCH Partners with SBI Digital Markets, DOD, and Kyobo Life Insurance
Launching Asia’s First Institutional K-POP Live Event-Linked RWA Product
WITCH, a cultural technology company bridging entertainment and finance, has partnered with SBI Digital Markets, DOD, and Kyobo Life Insurance to launch one of Asia’s first institution-backed investment products directly linked to K-POP concert revenue streams. The product was issued through WITCH’s U.S. subsidiary, MDW Finance, which acted as the issuer and structurer for the offering.
This collaboration represents a major step in connecting regulated financial infrastructure with the expanding global influence of K-POP. The first tranche of the product, $CNCRT, has been closed with institutional investors outside the United States through SBI Digital Markets, the Singapore-licensed digital asset partner trusted by leading financial institutions. The offering was conducted in strict compliance with Regulation S under the U.S. Securities Act.
SBI Digital Markets serves as the exclusive distributor, while DOD, a Korean entertainment production company involved in major concerts, touring productions, and event IP development for K-POP artists, participates as the IP guarantor and operational partner.
"The successful launch of this initiative signals a turning point in how global investors can access the value of K-POP," said Min Joon Lee, Founder and CEO of WITCH. "By combining our entertainment IP expertise with the structural discipline of regulated finance, we're opening a new pathway where culture becomes an investable asset class."
Youngjae Jeon, Vice President of DOD, added, "This partnership demonstrates how the business of live entertainment can be integrated into transparent, institutionally managed financial products. It’s an important step toward building a long-term, sustainable investment framework for the K-POP ecosystem."
The launch of $CNCRT marks the first issuance of a regulated, live event-linked investment product tied to K-POP assets in Asia, developed and structured by WITCH and its financial arm MDW Finance. By transforming live concert revenues into real-world asset–backed investment instruments, WITCH has effectively introduced a new asset class — K-POP RWA — into Asia’s institutional capital markets.
Unlike conventional digital assets, $CNCRT is backed by actual revenue flows from two major K-POP properties — Korea Grand Music Awards (KGMA 2025) — a globally streamed K-POP awards event that gathers leading artists and audiences worldwide — and a K-pop solo artist's world tour. Beyond financial returns, investors in $CNCRT can also access exclusive IP-based benefits, offering access to curated fan experiences and limited-edition digital collectibles linked to participating K-POP events. This dual structure — combining stable yield potential with cultural engagement — exemplifies WITCH’s vision of redefining how culture and capital intersect.
This milestone demonstrates the viability of a K-POP finance model powered by synergizing the core strengths of key industry players: SBI Digital Markets, DOD, Kyobo Life Insurance—korea's 3rd largest insurer— and WITCH. Building on this validation, WITCH aims to deepen collaboration with these stakeholders to establish a recurring issuance program for K-POP RWA starting in 2026, creating a scalable ‘Cultural Finance’ ecosystem in the Asian digital asset market.