Kakao Pay explores tokenized Korean shares with two partners

Kakao Pay Securities has signed agreements with Dinari and Ondo Finance to explore ways to tokenize South Korean shares for possible distribution to investors overseas, but neither initiative has produced a launched or approved offering. The proposals remain subject to regulatory, technical and operational review, and the companies have not provided a launch date. The Dinari partnership will test whether Korean-listed shares can be represented through Dinari’s dShares infrastructure. Dinari describes the model as backing each token one-to-one with an underlying security held through custody. The partners plan to examine how Korean shares could be sourced, tokenized and redeemed, and how digital tokens would be reconciled with the underlying holdings. They have not identified shares for a proof of concept or disclosed a target transaction volume. Kakao Pay Securities and Ondo Finance signed a separate memorandum of understanding covering a framework for overseas distribution, joint research into tokenization infrastructure and a working group to explore access for retail investors abroad.