South Korea FSC Sets Tokenization Roadmap With Stablecoin Link
FSC roadmap starts February 2027 with published caps, equity rules, and stablecoin payments in the final phase.
South Korea's Financial Services Commission presented a three-phase securities tokenization roadmap on 4 September at the third private-public consultative meeting.
Phase one begins in February 2027 and covers privately pooled money market funds, institutional bonds, unlisted trust stocks, and fractional public securities once the Electronic Registration Act amendment takes effect.
Caps and requirements
Phase two expands coverage to all publicly offered securities.
Phase three introduces an on-chain stablecoin payments system.
Individual subscriptions are capped at the smaller of 30 million won or 5 percent of any issuance.
Retail investors face an annual net purchase limit of 100 million won per exchange.
Manager standards and trading
Tokenized securities account managers must hold at least 4 billion won in equity and maintain dedicated staff plus IT controls.
Over-the-counter trading of tokenized securities requires no separate license but needs prior consultation with the Financial Supervisory Service.
Revised rules under the FSCMA and Electronic Registration Act are scheduled for the end of September.
Open variables
The pace of phases two and three remains dependent on phase one adoption and the outcome of pending stablecoin legislation.