Ondo Finance, the operator of what it describes as the world's largest tokenized equity platform, has signed a memorandum of understanding with Kakaopay Securities, the securities brokerage subsidiary of Kakao Pay, to facilitate the international distribution of exposure to Korean listed equities.

Tokenized equities — blockchain-based representations of shares in listed companies — have drawn growing interest from brokerages exploring how traditional assets can reach investors through crypto-native infrastructure. Kakao Pay, the fintech affiliate of South Korean internet giant Kakao — the company behind KakaoTalk, the country's dominant messaging app — is pursuing that model through its securities brokerage arm.

The agreement was signed on September 28 at Kakaopay Securities' headquarters in Pangyo, the technology hub just south of Seoul, and announced during Korea Blockchain Week, the annual blockchain industry event held in the Korean capital. Executives from both firms attended the signing, including Kakaopay Securities Executive Vice President Chung Inyoung and Ondo Finance Managing Director Matthieu de Vergnes, who heads the firm's global institutional business.

The partnership reflects growing international investor appetite for Korean companies, whose equity market has historically been difficult for overseas retail investors to access through conventional channels. Ondo publicized the agreement in a post on X on September 29, describing it as a new chapter for tokenization in Korea.

Scope of the Agreement

Under the MOU, the two companies agreed to pursue three areas of cooperation: building a framework for the international distribution of Korean listed equities, jointly researching the tokenization infrastructure needed to support that distribution, and establishing a dedicated task force to explore business opportunities targeting overseas retail investors.

The initial phase of the collaboration will focus on sourcing and providing custody for the underlying Korean-listed shares that could serve as the basis for future tokenized products. Kakaopay Securities will operate a foreign investor omnibus account — a pooled structure commonly used to hold shares on behalf of multiple underlying investors, and a mechanism that allows overseas investors to gain exposure to the Korean market without opening direct local brokerage accounts. On the technical side, both firms will research token issuance and redemption processes, along with balance management and reconciliation mechanisms.

A new chapter for tokenization in Korea. Ondo and Kakaopay Securities are partnering to advance global distribution of Korean equities. Announced at KBW, the partnership combines Ondo's global distribution with Kakaopay Securities' domestic market infrastructure. The… pic.twitter.com/Vzppk28Dp0

— Ondo Finance (@Ondo) September 29, 2026

From Infrastructure Research to Commercialization Decisions

Whether and when tokenized equity products actually launch will depend on applicable legal and regulatory frameworks in both domestic and international jurisdictions, supervisory guidance, and investor protection principles, the companies noted. Commercialization remains a subject for future discussion rather than a settled outcome — a cautious framing common to tokenization initiatives, where products generally cannot reach retail users until they align with securities regulation.

Leadership at both firms framed the partnership as a convergence of complementary strengths. Chung Inyoung emphasized that while global demand for investment in Korean companies is rising rapidly, overseas retail investors still face limited access channels, and the goal is to turn the international distribution of Korean equities into a service that functions in practice.

De Vergnes described South Korea as one of the world's most sophisticated digital asset markets and a critical geography for Ondo's push to bring tokenized equities and other real-world assets into financial services that consumers already use and trust.

What Comes Next

Beyond the immediate agreement, the partnership signals a strategic direction for tokenization in Korea. As a follow-up to the MOU, the companies plan to establish a joint task force later this year to develop operational frameworks for share sourcing and custody and to advance their research into tokenized equity infrastructure. The task force's formation — and how it navigates the regulatory conditions both firms flagged — will be the marker to watch as the initiative moves from framework-building toward potential product launches.

This article was first published by Metaverse Post.