South Korea's FSC Plans Pilot Program for Tokenizing Listed Stocks via KRX

The Financial Services Commission (FSC) of South Korea announced a policy direction to pilot the tokenization of listed stocks, modeled after initiatives by the New York Stock Exchange and Nasdaq, with the Korea Exchange (KRX) serving as the central hub. For unlisted stocks, the country will utilize a trust-based model to issue tokenized securities. The roadmap is divided into three phases: the first phase begins in February 2027 following the implementation of the Token Securities Act, covering private money market funds, private bonds, and unlisted stocks