South Korea's Eugene Investment Tests Stablecoin Settlement for Tokenized Securities
Eugene Investment & Securities has partnered with blockchain company BEATOZ to test stablecoin settlement for tokenized securities subscriptions. The agreement, signed on September 21, aims to move payment and subscription processes onto a single blockchain-based flow.
The current system records ownership and changes in investor rights on-chain but relies on conventional bank accounts for subscription funds. Eugene and BEATOZ plan to test a structure where stablecoins handle the payment side, enabling tokenized securities issuance, circulation checks, and real-time monitoring of issuance and circulation volumes.
Eun Seok Hoon, head of Eugene Investment & Securities' AX innovation division, described the agreement as 'a first step' toward infrastructure connecting tokenized securities and stablecoins. The trial comes as South Korea prepares to formally incorporate tokenized securities into its regulated capital markets system.