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XRP Meritz Securities joins hands with Ripple to expand South Korea's digital asset infrastructure
Meritz Securities is further entering the digital asset space through a new partnership with Ripple. The South Korean securities company announced on October 7 that it had signed a strategic cooperation agreement with a blockchain company to explore digital asset infrastructure for South Korea's domestic market.
As digital assets gradually gain formal recognition in the Korean financial system, this transaction will focus on custody and tokenization businesses. Ripple's South Korean expansion also continues to accelerate. The partnership was signed on October 1 at Melitz Securities headquarters in Yeouido, Seoul. Melitz Securities CEO Jang Won-jae attended the signing ceremony with Ripple President Monica Long and other officials.
Focus on tokenization and custody services
Under the agreement, the two parties will explore how to apply Ripple's tokenization infrastructure and Ripple Custody to South Korea's capital market. Both solutions are now open to global financial institutions. The initial cooperation will strictly comply with existing securities business rules and other existing regulations, and plans to gradually expand the scope of cooperation as the country's digital asset regulatory framework develops.
Previously, Melitz Securities has reviewed a number of digital asset businesses, including spot ETFs, fractional investment products, securities token issuance (STO), trading platforms and stablecoins denominated in Korean won.
Ripple accelerates deployment in the Korean market
This year, Ripple has been expanding its influence in the South Korean digital asset market. As early as April, pure online lender K Bank surpassed the initial blockchain remittance pilot stage through new cooperation. The bank is testing whether Ripple's network can make cross-border transfers faster, cheaper and more transparent.
K Bank's second phase of proof-of-concept project includes account integration and on-chain transfer testing with partners in the United Arab Emirates and Thailand. In addition, K Bank plans to replace its internal wallet with a Palisade wallet based on the SaS-based model in the next phase.
Ripple also cooperated with Kyobo Life Insurance to build institutional digital asset infrastructure, focusing on the tokenization of government bond transactions.
XRP is popular among young South Korean investors
At the same time, XRP is particularly popular among South Korean investors in their twenties. Data shows that XRP accounts for 20.7% of its portfolio, while Bitcoin and Ethereum together account for 17.5%, giving XRP a 3.2 percentage point lead.
Global expansion of institutional business
The company is also expanding its institutional business in other regions. For example, Ripple partnered with Brazil's CSD BR to use XRP Ledger to record and audit tokenized financial assets. The first phase will focus on BTG Pactual's investment fund shares.
The system will run in parallel with CSD BR's infrastructure, providing nearly real-time access to blockchain records to eligible participants. Access is limited to approved corporate and bank customers.
Ripple 还加深了与 Brevan Howard 的关系。这家投资管理公司将使用 Ripple Prime 进行多资产主经纪商、清算和融资服务。
