Korea's Financial Services Commission unveils three-stage roadmap for asset tokenization, advancing pilot for tokenization of listed stocks

Odaily News: The Financial Services Commission of Korea has announced that it will advance the validation and pilot project for tokenizing listed stocks, centered on the Korea Exchange (KRX), with reference to pilot programs at the New York Stock Exchange and Nasdaq. Unlisted stocks will be tokenized through a trust structure.

The Financial Services Commission of Korea has published a three-stage roadmap for standardizing asset tokenization. The first phase will commence in February 2027 with the implementation of the Token Securities Act, targeting private money market funds, private corporate bonds, and unlisted stocks, with participation limited to institutional investors. The second phase will expand coverage to public offerings. The third phase will advance on-chain settlement, in which both securities and settlement instruments are paid for and settled on the blockchain. The Financial Services Commission stated that on-chain settlement will be formally pursued following the enactment of stablecoin legislation.