Overview

Ripple has partnered with Meritz Securities, a South Korean securities firm, to explore digital asset infrastructure for the domestic market. The deal focuses on custody and tokenization as digital assets move closer to formal recognition in South Korea's financial system.

Background

Ripple has been expanding its footprint in South Korea's digital asset market this year, following recent collaborations with internet-only lender K Bank and Kyobo Life Insurance. 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.

Details

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.

Market Impact

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. Ripple's institutional business is also expanding globally, with recent partnerships with Brazil's CSD BR and Brevan Howard.