Kakao Pay Taps Nasdaq's Siebert for Tokenized Korean Stocks

Kakao Pay Securities has partnered with Nasdaq's Siebert Financial Corp. to bring tokenized Korean stocks to Wall Street.

The collaboration, dubbed K-Stock Global Gateway, aims to connect U.S. and South Korean investors by tokenizing existing stock accounts in South Korea, estimated at around 9 million. Tokenization would allow for trading outside normal market hours, as the service plans to use blockchain-based systems.

Siebert CEO John J. Gebbia said the deal validates the financial infrastructure they've built, and Kakao Pay Securities CEO Simon Shin noted that tokenization is an important first step in building a global gateway for Korean shares by pairing their technology with Siebert's U.S. market access.

The initial service is targeted for launch in the first half of 2027, pending regulatory approval from both countries. The partnership also aims to explore faster settlement times, potentially allowing trades to settle the same day instead of taking multiple days as usual.