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 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 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.
Ripple has also worked with Kyobo Life Insurance on institutional digital asset infrastructure. The focus is on tokenized government bond transactions.
Meanwhile, XRP has been particularly popular among Korean investors in their twenties. It accounted for 20.7% of their portfolios, compared with a combined 17.5% for Bitcoin and Ethereum, which put XRP 3.2 percentage points ahead.
A Bigger Institutional Push
The company is also expanding its institutional business elsewhere. For instance, Ripple partnered with Brazil’s CSD BR to use the XRP Ledger for recording and auditing tokenized financial assets. The first phase will focus on investment fund shares from BTG Pactual.
The system will run alongside CSD BR’s existing infrastructure and give eligible participants near-real-time access to blockchain records. Access will be limited to approved corporate and banking clients.
Ripple has also deepened its relationship with Brevan Howard. The investment manager will use Ripple Prime for multi-asset prime brokerage, clearing, and financing.
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