Ripple and Meritz Securities to Explore Digital-Asset Custody and Tokenization in South Korea
Ripple and South Korean securities firm Meritz Securities have agreed to assess digital-asset custody and tokenization for capital-markets operations. The agreement is exploratory. The companies have announced no product, blockchain network or launch date.
- Meritz will assess infrastructure to hold, transfer and settle digital assets.
- Potential business areas include crypto ETFs, security tokens and won-denominated stablecoins.
- The initial work will follow existing permissions and South Korea’s current rules. It does not amount to blanket approval for future products.
- The announcement makes no commitment to XRP, RLUSD or the XRP Ledger.
What the agreement covers
Announced on October 14, 2026, the agreement will examine how Ripple’s custody and tokenization capabilities could support Meritz’s capital-markets operations. Ripple says its custody platform helps financial institutions securely store assets, transfer them and settle transactions.
Institutional custody is the infrastructure financial firms use to safeguard digital assets and manage access to them. Tokenization means creating a digital token that represents an asset or a claim on one, often on a blockchain. A token alone does not determine who legally owns the asset or what rights the holder has. Those questions depend on the product’s legal and operational structure.
Meritz is assessing infrastructure for holding, transferring and settling digital assets. It is also considering potential businesses involving spot cryptocurrency exchange-traded funds (ETFs), fractional investment products, security tokens, digital-asset trading platforms and stablecoins denominated in South Korean won. The announcement does not say which assets might be available through fractional investments.
These are possibilities under review, not announced products. The companies disclosed no commercial terms, implementation milestones, transaction volumes, customer eligibility rules or launch timetable. Meritz has not confirmed plans to issue a won-denominated stablecoin.
The companies say the initial work will stay within Meritz’s existing business permissions and South Korea’s current regulatory framework. That sets the scope for the assessment. It does not mean every potential product is already permitted or that further approval would not be needed. The announcement does not specify the requirements for any future service.
The announcement also names no blockchain network and makes no commitment to using XRP, Ripple’s RLUSD stablecoin or the XRP Ledger. A partnership with Ripple does not, on its own, mean customers will use a particular Ripple-associated asset or network.
Ripple’s institutional partnerships in Korea
Ripple describes the Meritz agreement as its fourth Korean institutional partnership of 2026 and its first announced partnership with a Korean securities firm. Earlier arrangements focused on other financial uses:
- Kyobo Life Insurance, April 2026: The companies are exploring blockchain-based settlement of tokenized Korean government bonds using Ripple Custody.
- Kbank, later in April 2026: The bank agreed to deploy digital-asset wallet infrastructure using Ripple Custody. Kbank had also tested blockchain-based international transfers involving the United Arab Emirates and Thailand.
- Jeonbuk Bank, August 2026: The bank adopted Ripple Payments for international business transfers. Ripple called it the first Korean regional bank to adopt the service.
The initiatives cover custody, bond settlement and cross-border payments. Meritz brings a securities firm’s potential capital-markets use cases into the mix, but the agreement is still at the assessment stage.
Ripple’s Asia-Pacific managing director, Fiona Murray, said the company’s technology covers payments, custody and tokenization. She also cited Ripple’s presence in more than 60 markets and over 85 licenses globally. These figures come from Ripple. A global license count does not show which services are authorized in South Korea or what Meritz may offer there.
What remains unknown
Meritz has not said which potential business, if any, it will prioritize. The technical setup, commercial terms, regulatory requirements and timing also remain undecided. For now, the agreement signals institutional interest in custody and tokenization, not an imminent Korean crypto ETF, security-token platform or won stablecoin.
Key questions and answers
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What are Ripple and Meritz assessing?
They are examining custody and tokenization for Meritz’s capital-markets operations, including infrastructure to hold, transfer and settle digital assets.
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Are any products launching now?
No product or launch date has been announced. The business areas Meritz listed are under consideration, not confirmed offerings.
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Will Meritz use XRP or the XRP Ledger?
The agreement names no blockchain network and makes no commitment to XRP, RLUSD or the XRP Ledger.
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Will Meritz issue a won-denominated stablecoin?
Meritz is considering won-denominated stablecoins as a potential business area, but it has not confirmed plans to issue one.
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Does the agreement mean the proposed services are approved?
No. The initial assessment is framed around existing permissions and current rules, but the announcement does not confirm approval for any future product or say whether additional authorizations would be required.
