Key Takeaways
- • Meritz Securities signed a memorandum of understanding with the Canton Foundation, operator of the Canton Network, to explore tokenisation of domestic South Korean financial assets and related digital asset infrastructure, according to Digital Today (디지털투데이).
- • The cooperation is limited to what current South Korean regulations allow, and Meritz plans to expand the scope in stages as the country improves its digital asset systems.
- • Meritz will also examine exchange arrangements with global financial institutions active in the Canton Network ecosystem and participation in related programmes.
- • The Canton Network is an institutional blockchain developed by U.S. firm Digital Asset, designed around existing financial market regulation and offering privacy features for inter-institutional transactions.
Summary
Meritz Securities said on Tuesday that it had signed a memorandum of understanding in the digital asset sector with the Canton Foundation, which operates the Canton Network, a global institutional blockchain network. According to the report by Digital Today (디지털투데이), the two sides agreed to cooperate on tokenising domestic financial assets and on the digital asset infrastructure needed to support that process.
Under the agreement, the parties will review how financial assets can be converted into tokens within the scope permitted by relevant regulations. They also plan to discuss applying the Canton Network's institutional blockchain infrastructure, which includes privacy protection functions, within South Korea's capital market. The Canton Network was developed by U.S. blockchain company Digital Asset and was designed to reflect the regulatory environment of existing financial markets, with features tailored to confidential transactions between institutions.
Meritz will additionally review ways to exchange assets with global financial institutions participating in the Canton Network ecosystem and to join related programmes. The company said it would expand the cooperation with the Canton Foundation in stages, in line with progress on improving South Korea's domestic digital asset-related systems.
A Meritz Securities official said the agreement laid the groundwork for examining how South Korea's capital market could be linked to global digital asset infrastructure. The official added that the company would continue to assess the use of digital asset infrastructure while monitoring developments in regulatory and system improvements. The announcement does not disclose financial terms of the arrangement.
Under the agreement, the parties will review how financial assets can be converted into tokens within the scope permitted by relevant regulations. They also plan to discuss applying the Canton Network's institutional blockchain infrastructure, which includes privacy protection functions, within South Korea's capital market. The Canton Network was developed by U.S. blockchain company Digital Asset and was designed to reflect the regulatory environment of existing financial markets, with features tailored to confidential transactions between institutions.
Meritz will additionally review ways to exchange assets with global financial institutions participating in the Canton Network ecosystem and to join related programmes. The company said it would expand the cooperation with the Canton Foundation in stages, in line with progress on improving South Korea's domestic digital asset-related systems.
A Meritz Securities official said the agreement laid the groundwork for examining how South Korea's capital market could be linked to global digital asset infrastructure. The official added that the company would continue to assess the use of digital asset infrastructure while monitoring developments in regulatory and system improvements. The announcement does not disclose financial terms of the arrangement.
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