Blockchain solutions provider Ripple has partnered with Korean securities firm Meritz Securities to explore bringing institutional custody for digital assets and tokenisation to Korea’s capital markets.
The partnership will begin with Meritz’s existing securities business and services that are within scope of Korea’s current regulations. The two firms plan to widen the scope as the country’s regulations around digital assets evolve.
The collaboration is a part of Meritz Securities’ efforts to expand its digital asset business. The firm is currently looking into spot ETFs, fractional investments, and security tokens. Ripple’s bank-grade digital asset custody platform allows Meritz Securities to skip building its own platform from scratch, reducing time to market.
Meritz Securities is Ripple’s first partnership with a Korean securities firm, but not its first presence in Korea. Earlier this year, the firm worked with Kyobo Life Insurance to pioneer the country’s first tokenised government bond settlement on blockchain. It also built a digital asset wallet infrastructure with internet-only bank, Kbank.