TLDR
- Meritz Securities signed a strategic partnership with Ripple on Oct. 1 and disclosed it on Oct. 7.
- The deal will review how Ripple Custody and tokenization tools could be used in South Korea.
- Meritz is also studying spot crypto ETFs, tokenized securities and won stablecoins.
- No product or launch date has been announced, and XRP’s role has not been confirmed.
- XRP traded around $1.47 on Oct. 7 with little reaction to the news.
Meritz Securities has signed a strategic partnership with Ripple. The deal will explore bringing digital asset custody and tokenization tools into South Korea’s capital markets.
The two companies signed the agreement on Oct. 1 at Meritz’s headquarters in Yeouido, Seoul. Meritz CEO Jang Won jae and Ripple President Monica Long were among those who attended. Meritz made the deal public on Oct. 7.
The partnership will review how Ripple Custody and Ripple’s tokenization technology could be used in Korea. Work will start within current securities and digital asset rules.
What the Meritz and Ripple Deal Covers
Ripple Custody helps institutions store and manage digital assets. Ripple has been pairing it with tokenization services for banks and other regulated firms.
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.
The brokerage is also reviewing other digital asset businesses. These include spot crypto ETFs, fractional investments, tokenized securities, trading platforms and won denominated stablecoins.
Meritz has not committed to launching any of those services. A company official said the deal gives Meritz a base for preparing digital asset financial services step by step.
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 Growing Work in South Korea and Asia
This is not Ripple’s first project in South Korea. In April, Ripple and Kyobo Life Insurance agreed to test government bond settlement using Ripple Custody.
The project aimed to move the holding, transfer and settlement of tokenized Korean government bonds onto blockchain. Kyobo Life planned to test settlement closer to real time instead of the usual two day process.
Ripple also has a stablecoin presence in the country. Upbit listed Ripple’s RLUSD stablecoin in July, with trading pairs against the Korean won, Bitcoin and USDT.
Other Korean firms are working on tokenized products too. KB Securities signed a deal with Securitize and the Optimism Foundation in September to develop tokenized funds for institutional investors.
South Korea’s security token amendments are due to take effect on Feb. 4, 2027. The changes will create a legal framework for tokenized securities.
Outside Korea, Ripple partnered with SettleMint in September to combine custody with tokenized asset tools. That same month, South African lender Absa launched digital asset custody using Ripple’s technology.
Meritz did not say whether XRP, RLUSD or the XRP Ledger would be used in any future service. Ripple’s tools can be used for custody or tokenization without institutions needing to buy XRP.
XRP showed little reaction to the news. The token traded around $1.47 on Oct. 7 after slipping over the past 24 hours.
Technical signals are mixed, though moving averages lean bullish. The first major resistance level sits near $1.48.
