Seoul, September 23, 2025
Korea’s domestic tokenized securities market could reach KRW 367 trillion (≈US$265 billion) by 2030, positioning the country as a regional hub for tokenized finance, according to The Case for Tokenization in Korea, a new report by Superteam Korea, Synthesys, and Pinetree, with contributions from Solana Foundation and Barun Law.
Tokenized assets have already moved from concept to scale globally, surpassing US$26 billion in 2025. Analysts project growth to between US$2 trillion and US$16 trillion by 2030, depending on how quickly regulatory frameworks and infrastructure mature.
“Security tokenization has entered a clear inflection point, driven by some of the world’s largest asset managers. Korea has a great opportunity, and the depth, to emerge as one of the most important markets in this transformation and we’re already seeing significant action taken towards transforming Korea into a tokenized economy.” – Darien Poh, CEO of Synthesys
A Defining Moment for Korea Capital Markets
Under President Lee Jae-myung’s administration, Korea is rapidly modernizing its financial laws with the proposed Digital Asset Basic Act (DABA) as the centrepiece of this effort.
The bill would create a unified definition of digital assets, set clear rules for stablecoins, and require licensing and oversight of virtual asset service providers by the Financial Services Commission. At the same time, lawmakers are preparing updates to the Electronic Securities Act and the Capital Markets Act to formally recognize securities recorded on blockchains, paving the way for fully regulated tokenized securities.
These reforms, expected to pass by late 2025 or early 2026, will provide the legal clarity needed for institutional tokenization adoption.
Unlocking New Market Opportunities in Korea
As Korea prepares for digital asset regulation, major Korean banks, securities firms, and conglomerates are already piloting issuance, custody, and settlement of tokenized assets, laying practical infrastructure for broader adoption.
”Korea has consistently led the way in tokenization. With regulatory frameworks taking shape and infrastructure rolling out, we’re excited to help drive a paradigm shift as traditional markets move onto digital rails” said David (Sangwon) Lee, CEO of Pinetree Securities.
The report identifies multiple high-potential areas where tokenising capital markets can drive efficiency, liquidity, and participation in Korea’s markets. With the recent focus around regulating Korean Won-denominated stablecoins, the opportunity set for tokenizing mutual funds and other securities are emerging as a breakout case. This seemingly aligns with global trends as well, with tokenized funds growing 7,400% total assets under management in just six months, driven by regulatory clarity and consistently strong investor demand.
To unlock this potential, The Case for Tokenization in Korea outlines practical steps, including the rollout of tokenized KRW cash-legs, pilots in government and investment-grade bonds, and the development of licensed distribution venues. Together, these moves can establish Korea as a global model for building accessible, efficient, and fully regulated tokenized markets.
Read the full report: https://www.synthesys.co/report/korea
About:
Synthesys: Synthesys provides a fully integrated infrastructure that empowers asset managers to design and implement tokenization strategies across the full asset lifecycle across issuance, management, and distribution.
Pinetree Securities: Pinetree Securities Singapore is the first Korean securities firm licensed in Singapore to issue and distribute security token offerings (STOs), while also providing private market corporate finance advisory services. Wholly owned by Hanwha Financial Group, Pinetree Securities acts as a cross-border bridge for tokenization, private investments, and strategic capital deployment between Korea, Singapore, and Southeast Asia.
Superteam Korea: Superteam Korea is the regional focus layer of the distributed talent network for the Solana ecosystem. As part of the global Superteam, we help individuals in Korea learn, earn, and build within Web3, creating a dedicated space for top-tier talent to thrive.
Solana Foundation: The Solana Foundation is a non-profit foundation based in Zug, Switzerland, dedicated to the decentralization, adoption, and security of the Solana ecosystem.
Barun Law: Barun Law LLC, founded in 1998, is one of Korea’s leading law firms, renowned for its litigation strength and trusted corporate advisory. The firm is at the forefront of guiding clients through Korea’s evolving digital asset and financial regulatory landscape.
‘한국 토큰화 자본시장 2,650억 달러 기회’… 2030년 367조원 전망
Superteam Korea · Synthesys · Pinetree Securities 공동 보고서… Solana Foundation · Barun Law 참여
서울, 2025년 9월 23일
한국의 토큰증권(증권의 토큰화) 시장 규모가 2030년까지 약 367조원(미화 약 2,650억 달러)에 달하며, 한국이 아시아 토큰화 금융의 지역 허브로 부상할 것이라는 전망이 나왔다. Superteam Korea, Synthesys, Pinetree가 공동 발간한 「The Case for Tokenization in Korea」(이하 ‘보고서’)에는 Solana Foundation과 Barun Law가 컨트리뷰터로 참여했다.
보고서는 글로벌 토큰화 자산이 이미 개념 단계를 넘어 2025년 260억 달러를 돌파했으며, 규제 정비와 인프라 성숙 속도에 따라 2030년까지 2조~16조 달러 범위로 성장할 수 있다고 내다봤다. 다리엔 포(Darien Poh) Synthesys 대표는 “세계 유수의 자산운용사들이 주도하면서 증권의 토큰화가 분명한 전환점에 들어섰다. 한국은 이 변화를 이끌 핵심 시장으로 부상할 기회와 저변을 갖추고 있으며, 이미 토큰화 경제로의 전환을 위한 의미 있는 행보가 나타나고 있다”고 말했다.
한국 자본시장의 ‘결정적 모멘텀’
현 정부는 디지털자산기본법(DABA) 제정을 중심으로 금융 법·제도를 신속히 정비하고 있다. 디지털자산기본법는 디지털 자산의 통합 정의, 스테이블코인 규율, 가상자산사업자에 대한 금융위원회 라이선스·감독 체계 를 골자로 한다. 동시에 전자증권법과 자본시장법 개정을 통해 블록체인에 기록된 증권의 법적 지위를 명확히 함으로써, 완전 규제 체계 하의 토큰증권 발행·유통 기반을 마련한다는 구상이다.
해당 개혁 패키지는 2025년 말~2026년 초 통과가 전망되며, 제도적 불확실성 해소를 통해 기관투자가의 본격적인 토큰화 도입을 촉진할 것으로 보인다.
한국에서 열리는 신규 시장 기회
제도 정비와 맞물려 국내 은행·증권사·대기업은 토큰화 자산의 발행·수탁·결제를 아우르는 파일럿을 진행 중이다. 데이비드(이상원) 이 Pinetree Securities 대표는 “한국은 일찍부터 토큰화를 선도해 왔다. 규제가 구체화되고 인프라가 깔리면서, 기존 자산시장이 ‘디지털 레일’ 위로 이동하는 패러다임 전환을 함께 견인하겠다”고 말했다.
보고서는 토큰화가 효율성·유동성·참여 확대를 이끌 수 있는 고잠재 영역을 다수 제시했다. 특히 원화(KRW) 스테이블코인 제도화 논의가 속도를 내는 가운데, 공·사모펀드 등 집합투자증권과 다양한 증권의 토큰화가 차세대 브레이크아웃(use case)로 부상하고 있다고 평가했다. 이 같은 흐름은 글로벌 추세와도 궤를 같이하며, 토큰화 펀드의 운용자산(AUM)이 6개월 만에 7,400% 증가하는 등 규제 명확성과 지속적 투자 수요가 성장을 견인하고 있다는 분석이다.
보고서 전문 보기: The Case for Tokenization in Korea: https://www.synthesys.co/report/korea