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South Korea will allow tokenization of money market funds similar to BlackRock’s BUIDL from February next year, Edaily reported.
South Korea’s Financial Services Commission announced the policy direction for tokenized securities at the third meeting of a public-private consultative body on tokenized securities held on Sept. 4 in Seoul’s Yeouido district. Under the plan, the authorities will first allow tokenization of private money market funds for institutional investors, privately placed corporate bonds and unlisted shares when the framework takes effect in February next year, and later expand it in stages to public offering securities and stablecoin-based on-chain settlement.