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ZEC $1,319 Ripple and Meritz Securities partner to study Korean custody and tokenization
Meritz Securities and Ripple signed an agreement on Oct. 1 to review custody and tokenization infrastructure for South Korea's capital markets.
Key takeaways
- Signed on Oct. 1. Meritz Securities and Ripple signed the agreement at Meritz's Yeouido headquarters and disclosed it on Oct. 7.
- No product yet. No specific digital asset product or launch date has been announced under the new agreement.
- Rules first. Work starts inside existing securities and digital asset rules and may widen as South Korea introduces new regulations.
What happened
South Korean brokerage Meritz Securities has signed a strategic partnership with Ripple to study how institutional digital asset custody and tokenization infrastructure could be used in the country's capital markets. Meritz said the review covers Ripple Custody and Ripple's tokenization technology.
The agreement was signed on Oct. 1 at Meritz Securities' headquarters in Yeouido, Seoul. CEO Jang Won jae and Ripple President Monica Long were among the executives who attended. Meritz disclosed the partnership on Oct. 7.
The brokerage is reviewing several digital asset businesses, including spot crypto ETFs, fractional investment products, tokenized securities, trading platforms and won-denominated stablecoins. The two companies will start within existing securities and digital asset rules and expect the scope to grow in stages as South Korea introduces new regulations.
Why it matters
The deal places Ripple's institutional custody and tokenization offering in front of a regulated Korean securities firm. Ripple has expanded that business across Asia Pacific. In September it entered a partnership with SettleMint that combines Ripple Custody with infrastructure for issuing and managing tokenized assets, aimed at regulated financial institutions in the region.
For Meritz, the arrangement is groundwork rather than a product launch. No specific digital asset product or launch date has been announced under the new agreement.
Ripple already has Korean tokenization experience. It has worked with local financial institutions, including a project with Kyobo Life involving tokenized government bonds and Ripple Custody.
Background
- Ripple Custody gives institutions infrastructure to store and manage digital assets, and Ripple has paired it with tokenization services for banks and other regulated financial firms.
- The SettleMint partnership, announced in September, was directed at regulated financial institutions in Asia Pacific.
- Absa Corporate and Investment Banking in South Africa launched digital asset custody using Ripple's technology in September, nearly a year after the two companies announced their partnership.
What is still unclear
- Meritz has not said which business from its review list would come first, and no product or launch date has been named.
- The scope of the partnership depends on how South Korea's digital asset rules develop, so the full range of cooperation is not yet fixed.
Questions readers ask
What did Meritz Securities and Ripple agree to do?
They signed a strategic partnership to review whether Ripple Custody and Ripple's tokenization infrastructure can be used in South Korea's capital markets. The first phase stays within existing securities and digital asset rules.
Which digital asset businesses is Meritz Securities reviewing?
Meritz is reviewing digital asset ETFs, fractional investments, security tokens, trading platforms and won-based stablecoins.
Is there a launch date for a Meritz digital asset product?
No. Meritz and Ripple have not announced a specific digital asset product or launch date under the agreement.
Has Ripple worked with other financial firms in Asia?
Yes. Ripple partnered with SettleMint in September, and Ripple worked with Kyobo Life on tokenized government bonds and Ripple Custody.
