Kakao Pay Partners with Nasdaq-listed Siebert to Tokenize Korean Stocks for Wall Street
Kakao Pay Securities and U.S. broker-dealer Siebert (Nasdaq: SIEB) announced a partnership, "K-Stock Global Gateway," to explore offering tokenized South Korean stocks to American investors. The primary goal is to overcome the time-zone barrier, as U.S. traders cannot currently trade Korean stocks during Seoul's market hours. Tokenized shares on a blockchain could enable trading outside traditional exchange hours. The partnership also aims to explore T+0 same-day settlement for faster access to proceeds.
Launch of the service is targeted for the first half of 2027. Kakao Pay brings about 9 million existing Korean brokerage accounts to the venture. However, implementation remains contingent on receiving necessary regulatory approvals in both the U.S. and South Korea. Executives from both companies emphasized that tokenization is just one initial step in a broader partnership. They plan to develop more cross-border financial products and investment opportunities, combining Siebert's U.S. market access with Kakao Pay's technology and community reach.
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