Kakao Pay Securities Signs with Ondo Finance and Dinari to Explore Tokenization of Korean Stocks

Odaily News: South Korea's Kakao Pay Securities has signed separate memoranda of understanding with Ondo Finance and Dinari to explore the tokenization of Korean-listed stocks, aiming to broaden access for overseas investors.

Under the plan, Kakao Pay Securities will purchase and hold underlying stocks through omnibus accounts for overseas investors and issue tokens based on those holdings for distribution abroad. The three parties plan to form a joint working group within this year to study stock sourcing and custody, token issuance and redemption, stock-to-token reconciliation, and how shareholder rights such as dividends and voting should be reflected. Kakao Pay Securities will explore leveraging Ondo Finance's global distribution network and conduct a proof of concept with Dinari to confirm technical feasibility. Commercialization and timelines have not yet been determined.