Kakaopay Securities partners with Dinari and Ondo to tokenize Korean stocks

Kakaopay Securities has entered into agreements with US-based firms Dinari and Ondo Finance to explore the tokenization of Korean-listed stocks for international distribution. The partnerships aim to create a blockchain-based channel for overseas investors to access South Korean equities.

Through the partnership with Dinari, the companies will conduct a proof of concept using the ‘dShares’ model. This model involves tokens that are backed one-to-one by underlying shares, intended to preserve shareholder rights such as dividends and voting. Through the agreement with Ondo Finance, the focus will initially be on establishing a framework for sourcing and custodying Korean shares via a foreign investor omnibus account.

Commercial launches and specific timelines remain subject to technical assessments and regulatory requirements in both South Korea and international markets. The initiative follows recent legislative moves in South Korea to recognize distributed ledgers as valid securities registries.