Ondo Finance signed a memorandum of understanding with Kakaopay Securities to facilitate the international distribution of shares of companies listed in South Korea.
The agreement was signed at Kakaopay Securities’ headquarters in Pangyo, in the presence of Chung Inyoung, executive vice president of the Korean firm, and Matthieu de Vergnes, managing director and global head of institutional at Ondo Finance.
Under the MOU, both companies agreed on three areas of cooperation: building a framework for the international distribution of Korean equities, conducting joint research on tokenization infrastructure, and forming a working group to explore access opportunities for retail investors abroad.
As a first concrete step, Kakaopay Securities will operate an omnibus account for foreign investors dedicated to the custody and administration of the underlying shares, while both parties investigate the mechanisms for token issuance, redemption, and reconciliation.
The decision on whether and when to commercialize tokenized equity products will be subject to regulatory considerations in domestic and international jurisdictions. The alliance combines Ondo Finance’s global distribution network with Kakaopay Securities’ local market infrastructure, aiming to enhance the reach of international investors into one of the Asian exchanges attracting growing interest among global asset managers.
Source: https://ondo.finance/blog/ondo-and-kakaopay-securities-partner
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