Meritz Securities and Ripple have signed a strategic partnership to explore bringing digital asset custody and tokenization tools into South Korea's capital markets. The companies signed the agreement on October 1 at Meritz's headquarters in Yeouido, Seoul, with the announcement made public on October 7. Meritz CEO Jang Won jae and Ripple President Monica Long attended the signing.
The partnership will examine how Ripple Custody and Ripple's tokenization technology could be used in South Korea, with work to begin within current securities and digital asset regulations. Meritz said cooperation could expand in stages as South Korea develops new rules for digital assets. No specific product or launch date has been announced.
Meritz is also reviewing other digital asset business opportunities, including spot crypto exchange-traded funds, fractional investments, tokenized securities, trading platforms, and won-denominated stablecoins. The brokerage has not committed to launching any of these services, with a company official stating the deal provides a foundation for preparing digital asset financial services incrementally.
Fiona Murray, Ripple's managing director for Asia Pacific, said the company would explore with Meritz how digital asset infrastructure could support South Korea's capital markets.
Ripple's Existing South Korea Activities
This partnership builds on Ripple's existing presence in South Korea. In April, Ripple and Kyobo Life Insurance agreed to test government bond settlement using Ripple Custody, aiming to move the holding, transfer, and settlement of tokenized Korean government bonds onto blockchain.
Ripple's RLUSD stablecoin was listed on Upbit in July with trading pairs against the Korean won, Bitcoin, and USDT.
South Korea's security token amendments are scheduled to take effect on February 4, 2027, creating a legal framework for tokenized securities.
Broader Regional Expansion
Outside South Korea, Ripple has pursued similar initiatives across Asia and Africa. In September, Ripple partnered with SettleMint to combine custody with tokenized asset tools, and South African lender Absa launched digital asset custody using Ripple's technology that same month.
Meritz has not specified whether XRP, RLUSD, or the XRP Ledger would be used in any future service. Ripple's tools can be deployed for custody or tokenization without requiring institutions to purchase XRP.
