South Korea Expands Corporate Crypto Access and Launches Tokenized‑Securities and Deposit‑Token Pilots

South Korea is rolling out a coordinated digital‑finance programme that targets corporate investors, tokenised securities and programmable deposit tokens. The effort, overseen by the Financial Services Commission (FSC) and the Bank of Korea, aims to shift market activity from retail‑only trading toward institutional custody, settlement and regulatory compliance.

Corporate crypto accounts for roughly 3,500 firms

The FSC roadmap, released in February 2025, authorises about 2,500 listed companies and 1,000 corporations registered as professional investors to open real‑name bank accounts linked to crypto exchanges. The pilot excludes financial‑services firms and limits participation to a controlled group. Guidelines suggest an annual investment cap of 5 % of a company’s equity capital and restrict purchases to the 20 largest cryptocurrencies on South Korea’s five major exchanges. The inclusion of stablecoins such as USDT is still under review.

Legal framework for tokenised securities

Amendments to the Electronic Securities Act and Capital Markets Act, passed in January 2026 and set to take effect on 4 February 2027, recognise distributed‑ledger records as official securities registers. Issuers must register with the Korea Securities Depository (KSD), and licensed intermediaries will handle distribution and over‑the‑counter trading under new rules. Samsung SDS has been contracted to convert KSD’s test system into a production‑ready token‑securities platform, with expected completion by February 2027. Shinhan Bank and Plume are also conducting an offshore proof‑of‑concept for a won‑denominated tokenised fund.

Project Hangang expands deposit‑token testing

The Bank of Korea’s Project Hangang, which creates digital versions of bank deposits (deposit tokens) backed by wholesale central‑bank money, entered Phase II in March 2026. Nine banks now participate, adding BNK Kyongnam Bank and iM Bank to the original seven. Phase II adds person‑to‑person transfers, biometric payment approval and automatic conversion between traditional deposits and deposit tokens. The central bank is also testing programmable payment conditions for government spending, such as electric‑vehicle charging grants.

AI‑driven payments and cross‑border links

LG CNS demonstrated an AI‑agent payment service that uses deposit tokens to execute transactions only after predefined conditions are met. The Bank of Korea is exploring similar use cases for settlement of tokenised bonds and shares. Additionally, Project Hangang has been linked to the BIS’s Project Agorá, enabling cross‑border tokenised‑reserve transactions across six currencies.

Industry response

BitGo Korea obtained VASP registration from the Korea Financial Intelligence Unit, positioning it to offer custody services for institutional clients. Hana Financial Group holds a 25 % stake in BitGo Korea, while SK Telecom owns 10 %.