The partnership adds Ripple’s custody and tokenization technology to Meritz Securities’ plans for entering South Korea’s digital asset sector.
ByChayanika Deka
Meritz Securities is stepping further into digital assets through a new partnership with Ripple. The South Korean securities firm said on October 7 that it signed a strategic agreement with the blockchain company to explore digital asset infrastructure for the domestic market.
The deal will focus on custody and tokenization as digital assets move closer to formal recognition within South Korea’s financial system.
Ripple’s Korean Expansion
The partnership was signed on October 1
The partnership was signed on October 1 at Meritz Securities’ headquarters in Seoul’s Yeouido district. Its chief executive, Jang Won-jae, and Ripple President Monica Long attended the ceremony, along with other officials.
As part of the agreement, the companies will look at how Ripple’s tokenization infrastructure and Ripple Custody can be used in South Korea’s capital markets. Both solutions are already available to financial institutions globally. Their initial cooperation will stay within current securities business rules and other existing regulations, with plans to expand the partnership gradually as the country’s digital asset rules develop.
Meritz Securities has already been reviewing several digital asset businesses, such as spot ETFs, fractional investment products, security token offerings, trading platforms, as well as won-based stablecoins.
Ripple has been expanding its footprint in South
Ripple has been expanding its footprint in South Korea’s digital asset market this year. In April, internet-only lender K Bank moved beyond initial blockchain remittance trials through a new partnership with the company. The bank is testing whether Ripple’s network can make cross-border transfers faster, cheaper, and more transparent.
Its second proof-of-concept phase includes account integration and on-chain transfer tests with partners in the UAE and Thailand. KBank also plans to replace its in-house wallet with Ripple’s SaaS-based Palisade wallet during the next phase.
