Mirae Asset Securities Collaborates with Polygon Labs to Drive Tokenized Securities and Web 3.0 Adoption
Mirae Asset Securities, the largest financial group in South Korea managing over $500 Billion in assets, has announced its partnership with Ethereum (ETH) growing platform Polygon Labs. This collaboration intends to advance the tokenization of assets within the finance sector and encourage the adoption of Web 3.0 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 intends to establish the infrastructure required to make available, exchange, and distribute tokenized securities. The working group, consisting of numerous corporations 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 Worldwide Tokenized Securities Field
Mirae Asset Securities’ Head of Digital Assets Division, Ahn In-sung, expressed the company’s vision to accomplish worldwide leadership in tokenized securities by collaborating with Polygon Labs. This leading blockchain technology development company is at the forefront of Web 3.0 innovation, making them an ideal partner for Mirae.
Unlocking the Probable of Tokenization
Tokenization involves digitizing real-world assets, such as real estate, bonds, fine art, and equities, on a blockchain. Corporations like Franklin Templeton and Hamilton Lane have already embarked on tokenization projects on Polygon. Singapore’s Central Bank 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 whole lot of business opportunity that could increase 50 times to $16.1 trillion by 2030, comprising 10% of the worldwide GDP.
Driving Web 3.0 Adoption in Finance
Polygon Labs’ Executive Chairman, Sandeep Nailwal, believes that Mirae’s initiatives will accelerate the mass adoption of Web 3.0 technologies between financial institutions. In addition, 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
The partnership between Mirae Asset Securities and Polygon Labs marks a whole lot of step towards a future where tokenized securities and Web 3.0 technologies are broadly adopted. As more corporations join the tokenization movement, the financial landscape is set to undergo transformative changes. With the capacity for increased liquidity and efficiency, the tokenization of assets has the power to reshape the worldwide economy.
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