Key figures: 2 partnerships (Dinari, Ondo Finance); 724 tokenized US stocks/ETFs already live on Dinari’s dShares; 0 specific Korean companies selected; 0 public timeline set.
Context
Kakaopay Securities, South Korea’s second-largest online broker, signed separate agreements with tokenization firms Dinari and Ondo Finance to explore bringing Korean-listed equities onchain. Under the Dinari deal, both sides will run a proof of concept using Dinari’s dShares model — which preserves shareholder rights like dividends and voting — extending its existing 724-token US stock/ETF catalog to Korean-listed shares. The Ondo agreement focuses on building a custody and sourcing framework, with Kakaopay operating a foreign investor omnibus account. No companies have been picked yet, and no commercial launch date has been announced. The moves come as South Korea’s National Assembly approved January amendments recognizing distributed ledgers as valid securities registries, clearing a regulatory path for tokenized securities.
Bottom Line
Capital: Opens a new distribution channel for Korean equities to international crypto-native investors, potentially unlocking fresh demand for KOSPI-listed names. Sentiment: Bullish for the tokenization thesis and for Dinari/Ondo as infrastructure providers; signals growing institutional appetite in East Asia. Assets: Directly relevant to DINI and ONDO ecosystems; broader positive signal for tokenized securities space (RWA narrative). No immediate price impact expected — still in exploratory/proof-of-concept phase with regulatory dependencies in both Korea and overseas markets.