South Korea sets three-phase tokenisation roadmap

• South Korea’s financial regulator has outlined a three-phase plan for tokenised securities.
• The first phase starts on 4 February 2027 and covers selected funds, bonds, unlisted stocks and fractional investments.
• The final phase aims to connect securities settlement with stablecoins and other digital assets.

South Korea’s Financial Services Commission (FSC) has introduced a three-phase roadmap for tokenised securities ahead of a planned 4 February 2027 launch.

The first phase will cover privately placed money market funds and bonds for institutional investors, unlisted stocks and publicly offered fractional investment securities.

“We will ensure that security tokens go beyond fractional investments,” FSC Vice Chairman Kwon Dae-young said, according to Korean media reporting on the regulator’s announcement.

The second phase would expand tokenisation to all publicly offered securities, while the third would establish on-chain payment infrastructure linked to stablecoins.

Authorities said the timing of the second and third phases will depend on the first phase, technological progress and pending stablecoin legislation.

The FSC plans to propose revisions to related subordinate regulations by the end of September and will work with the Korea Securities Depository on the required infrastructure.

The roadmap expands South Korea’s tokenisation plans beyond fractional investments to include traditional securities such as stocks, bonds and funds.