Meritz Securities will work with the Optimism Foundation, which operates Ethereum layer2 network OP Mainnet, to review the issuance, settlement and distribution structure for tokenised financial assets.

Meritz Securities said on Tuesday it signed a memorandum of understanding with the Optimism Foundation for business cooperation on tokenised financial assets.

The two sides agreed to use OP Mainnet to review a structure spanning issuance, settlement and distribution of tokenised financial assets.

Meritz Securities plans to examine ways to tokenise domestic financial assets and distribute them to global investors through a public blockchain ecosystem under the agreement.

In the Ethereum ecosystem, experiments to tokenise real-world and financial assets are expanding, led by global financial firms and asset managers.

Meritz Securities plans to review business feasibility while considering such global trends and the state of work to refine domestic token securities rules.

It will also examine ways to participate in the supply and distribution process of tokenised financial products based on domestic assets, within relevant laws and the scope of securities industry licences.

Meritz Securities said specific business scope and service methods will be decided in line with future rules and market conditions, as domestic token securities rules are still being refined.

A Meritz Securities official said the agreement is meaningful in that it will examine the role securities firms can play in the process of tokenised financial assets being distributed and settled on a public layer2, and added the company will continue to review ways to cooperate with Optimism.