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Ripple Partners Meritz for Korean Capital Markets
16 Oct
Summary
- Ripple and Meritz Securities partnered to explore digital asset custody.
- The collaboration focuses on Korea's capital markets and securities.
- Remittix platform offers completed bank transfers for crypto payments.
Ripple has expanded its institutional presence in South Korea through a new partnership with Meritz Securities, announced on October 14. This collaboration will investigate the use of Ripple's custody and tokenization infrastructure within the existing securities regulatory framework, with plans to grow as Korea's digital-asset regulations evolve.
Meritz Securities is considering spot ETFs, fractional investments, security tokens, and won-denominated stablecoins, leveraging Ripple's extensive licensing and infrastructure. This strategic alliance strengthens Ripple's position across banking, insurance, and capital markets in Korea, creating new avenues for regulated digital asset integration.
In parallel, Remittix is making progress in its PayFi sector, successfully completing over 30 real transfers of USDT and USDC stablecoins into EUR and USD bank accounts. This demonstrates Remittix's ability to bridge the gap between on-chain value and traditional banking, potentially generating recurring revenue.
The Remittix platform has raised $32.9 million and aims to reach its $36 million hard cap soon. The RTX token is priced at $0.28 before a planned increase to $0.46 by November 24. This positions Remittix as an early entrant with live trading and bank transfer capabilities, contrasting with Ripple's longer-term infrastructure development.
