Eugene Investment & Securities said on the 21st that it signed a memorandum of understanding with blockchain company BEATOZ to verify the use of stablecoins in settling subscription payments for tokenized securities.
The two firms will first conduct a proof-of-concept test applying stablecoins to the settlement of subscription payments for tokenized securities.
Currently, holdings and changes in rights for tokenized securities are recorded on a blockchain, but subscription payments are settled through conventional bank accounts. That means securities and funds move through separate systems.
The companies plan to verify whether applying stablecoins to subscription settlement can bring the entire process — from subscription to payment and clearing — onto a single blockchain-based system.
They will also examine the potential for using stablecoins across securities operations more broadly. Based on the test results, the two sides plan to pursue infrastructure integration and follow-up cooperation.
"This is a first step toward infrastructure that combines tokenized securities with stablecoins," said Eun Seok-hoon, head of Eugene Investment & Securities' AX innovation division. "We will use our existing tokenized securities issuance platform to find concrete ways to apply it."
Eugene Investment & Securities built a tokenized securities platform in 2024 and took part in a tokenized securities pilot project run by the Korea Securities Depository last year. It is also participating in Hana Financial Group's won-denominated stablecoin consortium.
