Kakaopay Securities has announced partnerships with Dinari and Ondo Finance to investigate the tokenization of Korean-listed stocks, expanding their reach to global investors. This initiative aims to leverage blockchain technology to enhance the accessibility of these equities.
The partnership with Dinari will involve a proof of concept utilizing Dinari’s dShares model, which ensures that shareholder rights, such as dividends and voting, are preserved. Currently, Dinari offers tokenized US stocks and ETFs, and this collaboration seeks to adapt that model for Korean equities.
Meanwhile, the agreement with Ondo will focus on creating a framework for sourcing and custodying Korean shares, which could later be tokenized. Kakaopay plans to manage a foreign investor omnibus account for these underlying assets.
As South Korea prepares to implement a new regulatory framework for tokenized securities by February 2027, there is a growing institutional interest in this market. The recent amendments recognize distributed ledgers as valid securities registries, paving the way for the issuance of tokenized securities.
With tokenized stocks gaining traction globally, reaching a distributed value of $3.2 billion, Kakaopay’s efforts could significantly enhance the connection between Korean capital markets and international investors while ensuring the protection of shareholder rights.