Korean Asset Manager Chooses Polygon Labs to Develop $500B Tokenized Securities Network

Korean Asset Manager Chooses Polygon Labs to Develop $500B Tokenized Securities Network


Mirae Asset Securities Collaborates with Polygon Labs to Drive Tokenized Securities and Web3 Adoption

Mirae Asset Securities, the largest financial group in South Korea managing over $500 billion in assets, has announced its partnership with Ethereum scaling platform Polygon Labs. This collaboration aims to advance the tokenization of assets within the finance sector and promote the adoption of Web3 technologies.

Developing a Tokenized Securities Network

Polygon Labs will serve as a technical consultant in The Mirae Asset Security Token Working Group. This collaborative effort aims to establish the infrastructure needed to issue, exchange, and distribute tokenized securities. The working group, consisting of various companies such as Linger Studio and Coin Plug, operates independently from Mirae, Hana Financial, and SK Telecom’s Next Finance Initiative (NFI) security token consortium.

Leading the Global Tokenized Securities Field

Mirae Asset Securities’ Head of Digital Assets Division, Ahn In-sung, expressed the company’s vision to achieve global leadership in tokenized securities by collaborating with Polygon Labs. This leading blockchain technology development company is at the forefront of Web3 innovation, making them an ideal partner for Mirae.

Unlocking the Potential of Tokenization

Tokenization involves digitizing real-world assets, such as real estate, bonds, fine art, and equities, on a blockchain. Companies like Franklin Templeton and Hamilton Lane have already embarked on tokenization projects on Polygon. Singapore’s Monetary Authority executed foreign exchange and sovereign bond transactions through Project Guardian on Polygon in 2020.

The Future of Asset Tokenization

According to Boston Consulting Group and investment firm ADDX, asset tokenization presents a significant business opportunity that could increase 50 times to $16.1 trillion by 2030, comprising 10% of the global GDP.

Driving Web3 Adoption in Finance

Polygon Labs’ Executive Chairman, Sandeep Nailwal, believes that Mirae’s initiatives will accelerate the mass adoption of Web3 technologies among financial institutions. Additionally, Mirae’s efforts will contribute to establishing interoperability between South Korea’s domestic financial systems and their foreign counterparts.

Hot Take: Collaborating for a Tokenized Future

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The partnership between Mirae Asset Securities and Polygon Labs marks a significant step towards a future where tokenized securities and Web3 technologies are widely adopted. As more companies join the tokenization movement, the financial landscape is set to undergo transformative changes. With the potential for increased liquidity and efficiency, the tokenization of assets has the power to reshape the global economy.

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