Nextrade, Korea Exchange to apply for tokenized securities OTC license

The launch of over-the-counter (OTC) exchanges for tokenized securities by South Korea's alternative trading system (ATS) Nextrade and the Korea Exchange is drawing near, The Korea Economic Daily TV reported. Both Nextrade and the Korea Exchange have formed separate consortiums with securities firms and partner companies. They aim to apply for final approval in August and open their respective markets within the fourth quarter. However, the outlet noted that a key limitation exists in the domestic market: tokenized securities are currently confined to real-world assets like cultural intellectual property and real estate, and have not yet been expanded to include financial assets such as stocks or bonds.