Meritz Securities, Ripple Form Strategic Partnership to Explore Digital-Asset Finance in South Korea, Including Custody

Meritz Securities is teaming up with Ripple, a global blockchain financial infrastructure company, as it explores a push into digital-asset financial services in South Korea.

Newsis reported on Oct. 7 that Meritz Securities signed a strategic partnership with Ripple to support the adoption of digital assets in the domestic market. The signing ceremony was held on Oct. 1 at Meritz Securities' headquarters in Seoul's Yeouido district, attended by Meritz Securities Chief Executive Officer Jang Won-jae and Ripple President Monica Long.

The companies plan to examine ways to apply digital-asset infrastructure, including Ripple Custody, to South Korea's capital markets. Ripple Custody is Ripple's tokenization infrastructure and digital-asset custody solution for global financial institutions.

Meritz Securities plans to prepare related procedures within the current regulatory framework for securities firms and expand areas of cooperation as South Korea's digital-asset regime is further developed.

The firm is also considering entry into related businesses in preparation for digital assets' integration into the regulated financial system, including spot exchange-traded funds, fractional investment, token securities, trading platforms and won-denominated stablecoins.

A Meritz Securities official said the partnership established a foundation for combining Ripple's global digital-asset infrastructure with the firm's capital-markets capabilities. The company will prepare reliable digital-asset financial services in stages in line with changes in the domestic regulatory framework.

Fiona Murray, Ripple's managing director for Asia-Pacific, said the company will explore how digital-asset infrastructure can support the continued development of South Korea's capital markets.