Firms to explore distribution and settlement using Ethereum layer-2 network

Kang Byung-ha (left), managing director of strategic planning at Meritz Securities, and Kyle Jenke, chief operating officer of Optimism, pose after signing an MOU to cooperate on tokenized financial asset projects. [Meritz Securities]
Kang Byung-ha (left), managing director of strategic planning at Meritz Securities, and Kyle Jenke, chief operating officer of Optimism, pose after signing an MOU to cooperate on tokenized financial asset projects. [Meritz Securities]

Meritz Securities signed an MOU with the Optimism Foundation, which operates the Ethereum layer-2 network OP Mainnet, to cooperate on tokenized financial asset projects, the company announced Wednesday.

OP Mainnet is an Ethereum-based layer-2 network developed by Optimism and serves as the core network of the Optimism ecosystem. Ethereum is the world's largest public blockchain ecosystem, where global asset managers including BlackRock operate tokenized funds. Under the agreement, the two sides will explore frameworks for issuing, settling and distributing tokenized financial assets using OP Mainnet.

Meritz Securities said the partnership lays the groundwork for domestic financial assets to be tokenized and made accessible to global investors through the Optimism ecosystem.

The firm will examine ways to participate in the supply and distribution of tokenized financial products based on domestic assets, within the bounds of applicable laws and its securities business license. It also plans to assess the detailed scope of cooperation under the MOU in light of ongoing regulatory reforms to South Korea's STO regime and broader market conditions.

"This agreement is significant in that it explores the role a securities firm can play in the distribution and settlement of tokenized financial assets on a public layer-2 network," a Meritz Securities official said. "We will pursue cooperation with Optimism with investor protection and regulatory consistency as our top priorities."

Jing Wang, chief executive officer of Optimism, welcomed Meritz Securities to the OP Stack ecosystem. "We will explore together what changes emerge when issuance and settlement happen on a single open network, and what role a securities firm can play in that process," Wang said.

Meritz Securities has been expanding its push into financial asset tokenization. Earlier this month, it signed a digital asset MOU with the Canton Foundation, the operating foundation behind Canton Network. The firm plans to engage with participants in the Canton Network ecosystem, explore involvement in related programs, and gradually broaden the scope of its cooperation with Canton.


yuni@heraldcorp.com