韩国金融委员会公布资产代币化三阶段路线图，推进上市股票代币化试点

The Financial Services Commission of South Korea announced that it will promote a tokenization model validation and pilot project for listed stocks, centered around 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 has unveiled a three-stage roadmap for standardizing asset tokenization. The first stage will commence in February 2027 with the implementation of the Tokenized Securities Act, targeting tokenization of private money market funds, private corporate bonds, and unlisted stocks, with participation limited to institutional investors. The second stage will expand into the public offering domain. The third stage will advance on-chain settlement, whereby both securities and settlement instruments are paid and settled entirely on the blockchain. The Financial Services Commission stated that on-chain settlement will be formally pursued once stablecoin legislation is completed.