Meritz Securities Partners With Ripple as XRP Leads Bitcoin on Upbit
The South Korean brokerage will examine Ripple’s custody and tokenization infrastructure for potential use in capital markets.
Meritz Securities has partnered with Ripple to examine digital-asset custody and tokenization infrastructure for South Korea’s capital markets as XRP moved ahead of Bitcoin (BTC) in 24-hour trading value on Upbit.
The agreement was signed Oct. 1 at Meritz Securities’ headquarters in Seoul’s Yeouido district by Meritz CEO Jang Won-jae and Ripple President Monica Long. The companies will review potential uses for Ripple Custody and Ripple’s tokenization infrastructure within South Korea’s existing securities and digital-asset rules.
At 1:36 a.m. ET (05:36 UTC) on Oct. 7, XRP had about $111.4 million in 24-hour trading value on Upbit, compared with $104.7 million for Bitcoin. Ether (ETH) ranked third at about $59.2 million.
Meritz is also examining possible businesses involving spot crypto exchange-traded funds, fractional investment products, tokenized securities, trading platforms and won-denominated stablecoins. The partnership remains exploratory, with cooperation expected to develop as South Korea’s regulatory framework evolves.
The announcement does not confirm a product launch, an XRP settlement role or a launch date for any Meritz digital-asset service.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.