**Ripple** has partnered with a Korean securities firm for the first time. Its fourth domestic institutional partnership in 2026, the agreement with Meritz Securities will see the two companies jointly explore opportunities in digital asset custody and tokenization.
Key points
Ripple and Meritz Securities will jointly study ways to apply Ripple’s custody and tokenization infrastructure to South Korea’s capital markets.
The agreement is exploratory in nature; specific product structures, launch timelines, and financial terms have not been disclosed.
The revised domestic regulations concerning security tokens will take effect on February 4, 2027.
Strategic partnership with Meritz Securities
Ripple announced on Wednesday that it had entered into a strategic partnership with Meritz Securities. The two companies plan to explore, in stages, how Ripple’s institutional platform, Ripple Custody, and its tokenization infrastructure can be applied to South Korea’s capital markets. Ripple Custody is an infrastructure platform that supports the custody, transfer, and settlement of digital assets for regulated financial institutions.
The agreement signing ceremony was held on October 1 at Meritz Securities’ headquarters in Yeouido, Seoul, and was attended by Meritz Securities CEO Jang Won-jae and Ripple President Monica Long.
Meritz Securities disclosed the agreement on its own on October 7, ahead of Ripple’s official announcement. The two companies plan to first assess the business case within the scope of existing securities business licenses and regulations, then gradually expand their cooperation in line with the pace of reforms to South Korea’s digital asset framework.
However, neither side disclosed specific financial terms or a timeline. The partnership is seen as focused on “market exploration” and “infrastructure validation.”
Related article: France may tax stablecoin swaps at up to 31.4%… Chainalysis warns of risk of capital moving overseas
“South Korea is one of the most dynamic digital asset markets”
**Fiona Murray**, Ripple’s managing director for Asia-Pacific, described South Korea as “one of the most dynamic digital asset markets in the world.” She said Korean financial institutions are ready to move beyond the mere “pilot” stage and into real-world commercialization, signaling Ripple’s intention to expand collaboration with more local institutions as the market matures.
Murray also emphasized that Ripple has secured more than 85 licenses worldwide and operates a network spanning around 60 markets. This could serve as a “reference” for domestic institutions that prioritize regulatory compliance.
A senior executive in Meritz Securities’ Strategic Planning Division described the partnership as “an effort to combine Ripple’s global digital infrastructure with Meritz’s capital markets expertise,” adding that the company would pursue digital asset-related services through a “step-by-step roadmap” in line with changes to the domestic regulatory environment.
Meritz Securities is currently reviewing a range of business options, including spot cryptocurrency ETFs, fractional (equity) investment products, security tokens (STOs), digital trading platforms, and won-pegged stablecoins. However, nowhere in the announcement did it commit to using XRP (XRP) or the XRP Ledger.
With this deal, Ripple appears to be adding a “capital markets (securities)” pillar to its existing portfolio in South Korea, which has focused on banks and insurers, as it seeks to expand its presence across the financial sector.
Ripple’s “Korea plan” and the regulatory timeline for security tokens
The timing of the partnership also coincides with the schedule for reforms to South Korea’s security token framework. The revised rules concerning STOs are set to take effect on February 4, 2027, and are expected to clarify, to some extent, the legal status and distribution structure of tokenized securities, which have so far been ambiguous.
As of the agreement date, Meritz Securities had just over four months to design and validate its business structure before the regulations took effect. In the meantime, domestic securities firms are already proactively building investment infrastructure based on tokenized securities, while banks and insurers are testing potential applications through digital asset payment and clearing trials.
Meritz Securities is the fourth Korean financial institution to partner with Ripple in 2026.
In April, Kyobo Life agreed to conduct an experiment in settling tokenized government bonds using Ripple Custody.
On April 30, internet-only bank **Kbank** selected the same platform for its digital asset wallet infrastructure.
On August 18, Jeonbuk Bank became the first regional bank to adopt Ripple Payments. According to media reports, the bank chose Ripple’s solution to improve the efficiency of overseas remittances and B2B payments.
For Ripple, expanding its partner base from insurers, banks, and regional banks to securities firms makes its ambition to develop South Korea into a strategic hub in Asia more tangible. Meanwhile, South Korea’s financial sector faces a complex choice, weighing regulatory risks and growth opportunities around new businesses such as STOs, stablecoins, and digital ETFs.
Next article: MNX launches pre-IPO product that lets investors bet on OpenAI and Anthropic valuations without owning shares