Ripple has partnered with South Korea’s Meritz Securities on October 14 to explore institutional cryptocurrency custody and asset tokenization, securing its fourth Korean financial partnership of 2026 and its first with a securities firm.
Summary
- Ripple partnered with Meritz Securities to explore institutional custody and tokenization within South Korea’s markets.
- Meritz becomes Ripple’s fourth Korean institutional partner this year and its first local securities firm.
- Both companies will begin within existing securities regulations before considering additional services as rules develop.
- Meritz is examining spot ETFs, fractional investment, security tokens, trading platforms, and won denominated stablecoins.
- Ripple already works with Kyobo Life, Kbank, and Jeonbuk Bank on separate institutional financial projects.
Ripple announced the agreement on Wednesday, confirming that both companies will examine how Ripple Custody and its tokenization technology could support Meritz’s capital markets operations. The initial work will remain within the securities firm’s existing business permissions and South Korea’s current regulatory framework. Neither company disclosed a commercial launch date or financial terms.
Ripple and Meritz Securities plan digital asset services
Under the partnership, Meritz Securities will assess Ripple’s infrastructure for holding, transferring and settling digital assets. Ripple Custody provides software designed for regulated financial institutions, allowing them to manage cryptocurrency holdings and tokenized financial instruments through institutional security controls.
Meritz intends to evaluate the infrastructure as part of its preparations for expanding into digital asset services. The firm is examining several potential businesses, including spot cryptocurrency exchange-traded funds, fractional investment products, security tokens and digital asset trading platforms. Korean won-denominated stablecoins are another area under consideration, although no issuance plans were confirmed.
The companies expect to introduce their cooperation in stages as South Korea develops its rules governing digital assets. Meritz has not identified which products will receive priority or whether any planned service will require separate regulatory approval.
Byungha Kang, managing director of Meritz Securities’ Strategic Planning Unit, said the agreement would combine the firm’s securities experience with Ripple’s financial technology. He explained that the partners would prepare digital asset services gradually as the country’s regulatory environment develops.
For Ripple, the arrangement introduces its custody platform to another category of Korean financial institution. The company already provides technology to banks and insurers, but Meritz represents its first announced partnership with a Korean securities firm.
Ripple Custody could support tokenized securities
Ripple Custody supports the management of digital assets through infrastructure designed for financial institutions. Its services cover secure storage, asset transfers and settlement operations, with tools that institutions can integrate into their existing systems.
According to Ripple’s October 14 statement, the company wants to offer Meritz an alternative to developing its own custody infrastructure. The securities firm could evaluate the technology alongside its existing operational and compliance requirements before deciding which services to introduce.
In February, Ripple expanded the capabilities of its custody business through partnerships with Securosys and Figment. The arrangements introduced more options for secure key management and institutional staking services. Securosys provides hardware security technology that allows financial institutions to manage digital asset keys through cloud-based or on-premises systems.
Ripple’s custody infrastructure is not limited to XRP or the XRP Ledger. The company describes the platform as supporting digital asset operations across multiple blockchain networks, depending on institutional requirements and product configurations.
The Meritz announcement did not identify a blockchain network for the proposed tokenization services. It made no commitment to using XRP, RLUSD or the XRP Ledger for future securities transactions.
Ripple’s Asia-Pacific managing director, Fiona Murray, described the company’s technology as covering payments, custody and tokenization. She said Ripple operates across more than 60 markets and holds over 85 licenses globally, figures disclosed by the company.
Ripple signs fourth Korean institutional deal in 2026
Before the Meritz agreement, Ripple had established three institutional partnerships in South Korea during 2026, covering insurance, digital banking and cross-border payments.
In April, Ripple partnered with Kyobo Life Insurance to explore blockchain-based settlement of tokenized Korean government bonds. The project uses Ripple Custody to examine how digital securities can be held and transferred through a regulated institutional environment.
Kyobo’s project focuses on reducing settlement times for government bond transactions. Traditional transactions can take approximately two business days to settle, while the proposed blockchain arrangement would allow the transfer of securities and payments to occur much closer together.
The partnership was previously covered in an article about Ripple’s tokenized government bond initiative in South Korea, which examined the insurer’s plans for digital custody and bond settlement.
Later in April, Kbank announced an agreement to deploy digital asset wallet infrastructure using Ripple Custody. The bank selected the technology to manage digital assets through secure wallets and transaction-signing systems.
Kbank, South Korea’s first internet-only bank, had been testing blockchain-based international transfers. Its earlier blockchain remittance trials involving Kbank and Ripple examined transfers involving markets such as the United Arab Emirates and Thailand.
In August, Jeonbuk Bank became Ripple’s third Korean institutional partner of the year after adopting Ripple Payments for international business transfers. Ripple confirmed that the bank would use its infrastructure for cross-border remittances, targeting settlement within seconds or minutes.
The agreement made Jeonbuk the first Korean regional bank to adopt Ripple Payments. Its cross-border payments partnership with Ripple covers services intended for importers, exporters, technology companies and businesses receiving international payments.
South Korea’s rules will determine the next steps
Ripple and Meritz have agreed to develop their cooperation within South Korea’s existing financial regulations. Their October 14 announcement identified no specific timetable for launching tokenized securities, investment products or custody services.
The agreement comes as Korean financial institutions examine new uses for blockchain in regulated markets. Securities firms have been developing tokenized investment infrastructure, while banks and insurers are testing digital asset settlement and payment systems.
Meritz’s interest in spot ETFs, fractional ownership products and won-denominated stablecoins remains exploratory. The company has not announced a live digital asset trading platform through Ripple or confirmed plans to issue a stablecoin.
During earlier Korean partnerships, Ripple’s institutional work focused on specific financial applications. Kyobo Life examined tokenized bonds, Kbank selected wallet infrastructure, and Jeonbuk Bank adopted international payment technology. Meritz will assess custody and tokenization within its securities business.
Kang said the firm intends to prepare trusted digital asset financial services as Korean regulations develop. Ripple and Meritz have not published implementation milestones, transaction volumes, customer eligibility requirements or product launch dates for their new agreement.
