Financial Services Commission of Korea: Promoting the verification and pilot of the tokenization model for listed stocks centered around the Korea Exchange

According to Digital Asset, the South Korean Financial Services Commission has announced plans to advance a tokenization model for listed stocks centered around the Korea Exchange (KRX), referencing pilot programs from the New York Stock Exchange and NASDAQ. Non-listed stocks will be advanced for tokenization through a trust method.

The Financial Services Commission has released a three-phase roadmap for the tokenization of standardized assets. The first phase will launch in February 2027 when the token securities law is implemented, targeting tokenization of private money market funds, private corporate bonds, and non-listed stocks, limited to institutional investors. The second phase will expand the scope to public offerings. The third phase will promote "on-chain settlement," meaning that both securities and settlement methods will complete payments and settlements on the blockchain. The Financial Services Commission stated that on-chain settlement will be officially advanced after stablecoin legislation.