Kakaopay partners with Dinari, Ondo to explore tokenized Korean stocks

What happened

Kakaopay announced separate agreements with Dinari and Ondo on Tuesday, covering the sourcing of underlying Korean shares, tokenization (representing an asset as a tradable entry on a blockchain) infrastructure and their potential distribution outside South Korea. Dinari CEO Gabe Otte told Cointelegraph that no specific Korean-listed companies have been selected for the proof of concept and that it has not set a public timeline for commercial availability.

The proposed model would use locally listed Korean shares as the underlying assets rather than tokens that simply track their prices, he said. Kakaopay Securities is working with Dinari and Ondo Finance to explore tokenizing Korean-listed equities and expanding their availability to investors in international markets.

South Korea’s Kakaopay Securities is partnering with tokenization firms Dinari and Ondo Finance to explore bringing Korean-listed stocks onchain and distributing them to investors in international markets. Dinari offers 724 tokenized US stocks and ETFs through dShares, with the Kakaopay partnership exploring an extension of the model to Korean-listed equities. Kakaopay would operate a foreign investor omnibus account to hold and administer the underlying shares.

Key facts

• Kakaopay — announced: separate agreements with Dinari and Ondo on Tuesday, covering the sourcing of underlying Korean shares, tokenization infrastructure and their potential distribution outside South Korea