Meritz Securities to Explore Tokenized Financial Asset Partnership with Optimism, Consider Using "OP Mainnet"

Kang Byeongha, Senior Managing Director in Charge of Strategic Planning at Meritz Securities (left), and Kyle Jenke, Chief Operating Officer (COO) of Optimism (right), pose for a commemorative photo. Meritz Securities.

Meritz Securities is joining forces with Optimism, an Ethereum Layer 2 ecosystem, to explore ways to collaborate on tokenized financial asset businesses.

Meritz Securities said on October 21 that it had signed a memorandum of understanding (MoU) with the Optimism Foundation to collaborate on tokenized financial asset businesses. The two parties plan to explore the issuance, settlement, and distribution structures for tokenized financial assets using OP Mainnet, an Ethereum-based Layer 2 network operated by Optimism.

OP Mainnet is an Ethereum-based Layer 2 network developed by Optimism and serves as the central network of the Optimism ecosystem. Through this agreement, Meritz Securities plans to examine the role securities firms can play as tokenized financial assets based on public blockchains are distributed to global investors as well as in South Korea.

Ethereum is a leading public blockchain ecosystem on which global asset managers operate tokenized funds and other products. Meritz Securities plans to use it as a basis for exploring the tokenization of domestic financial assets and their potential for global distribution.

Specifically, the company will examine ways to participate in the supply and distribution of tokenized financial products backed by domestic assets, within the scope of relevant laws and its securities business license. As regulations related to token securities in South Korea are being developed, it also plans to determine the specific scope of cooperation by taking regulatory changes and market conditions into account.

A Meritz Securities official said, "This agreement is significant because it allows us to examine the role securities firms can play as tokenized financial assets are distributed and settled on a public Layer 2 network. We will explore ways to work with Optimism while prioritizing investor protection and regulatory compliance."

Jing Wang, CEO of Optimism, said, "We welcome Meritz Securities to the OP Stack ecosystem. Together with Meritz Securities, we will explore what changes may arise when issuance and settlement take place on a single open network, and what role securities firms can play in that process."

This content was produced with the assistance of AI translation services.