According to CoinMeta, and as reported by digitalasset, the South Korean Financial Services Commission stated that it will refer to the pilot projects of the New York Stock Exchange and NASDAQ to advance the verification and piloting of tokenization models for listed stocks, with the Korea Exchange (KRX) at the center. At the same time, the tokenization of unlisted stocks will be promoted through a trust mechanism. The first phase of the roadmap is planned to coincide with the implementation of the "Securities-Type Token Act" in February 2027. The tokens to be created include private money market funds and private bonds, and in the future, this will be extended to publicly offered products for ordinary investors. After the stabilization coin legislation is enacted, on-chain settlement, where both securities and settlement funds operate on the blockchain, will be pursued.