<\/p>\n
Korean financial giant Mirae Asset Securities is teaming up with Polygon Labs to support the growth of tokenized securities networks.<\/p>\n
The move comes as more institutions have launched initiatives in the segment. Polygon Labs is set to be a \u201ctechnical consultant\u201d in the Mirae Asset Security Token Working Group, the companies revealed Wednesday.\u00a0<\/p>\n
The consortium will focus on building the infrastructure for tokenized securities platforms, as well as the technology needed to issue and distribute tokenized securities.<\/p>\n
Ahn In-sung, head of Mirae\u2019s digital division, said in a statement that the company seeks to establish \u201cglobal leadership in the field of tokenized securities.\u201d<\/p>\n
Mirae Asset Securities is a subsidiary of Mirae Asset Financial Group, which had $565 billion in assets under management as of June.\u00a0\u00a0<\/p>\n
Its latest working group is separate from the security token consortium \u2014 called Next Finance Initiative (NFI) \u2014 that Mirae became a part of with SK Telecom, Hana Financial Group, and others, in June.\u00a0\u00a0<\/p>\n
\u201c[Mirae\u2019s] foray into tokenization will undoubtedly help accelerate the mass adoption of web3 among other financial institutions,\u201d Polygon Labs Executive Chair Sandeep Nailwal added in a statement. \u201cAt the same time, Mirae\u2019s initiatives will also greatly contribute to establishing interoperability between South Korea\u2019s domestic financial systems and their foreign counterparts.\u201d<\/p>\n
A spokesperson for the companies did not comment on the specifics of planned initiatives.\u00a0<\/p>\n
The partnership comes as a range of financial institutions have embarked on various tokenization initiatives in recent years. BlackRock CEO Larry Fink has touted tokenizing assets<\/a>, noting its potential to drive efficiencies in capital markets.\u00a0\u00a0<\/p>\n Read more: <\/strong>TradFi, DeFi convergence continues through tokenizing real-world assets<\/a><\/p>\n JPMorgan used the Polygon blockchain<\/a> to trade tokenized Japanese yen last year as part of the Monetary Authority of Singapore\u2019s Project Guardian pilot. DBS Bank and SBI Digital Asset also participated in the program.\u00a0\u00a0<\/p>\n Last year, Hamilton Lane partnered with digital asset securities firm Securitize to make three of its funds available via tokenized feeder funds<\/a>. More recently, Securitize bought digital asset wealth platform Onramp Investors to offer tokenized alternatives to the registered investment adviser (RIA) market<\/a>.<\/p>\n Executives at WisdomTree, a fund group that manages nearly $100 billion in assets, said in July they intend to capitalize on the firm\u2019s \u201cearly mover status in tokenization\u201d<\/a> after launching a blockchain-enabled consumer app<\/a> in July.<\/p>\n Get the day\u2019s top crypto news and insights delivered to your email every evening.\u00a0Subscribe to Blockworks\u2019 free newsletter<\/a>\u00a0now.<\/strong><\/p>\n Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can\u2019t-miss tweets and more from\u00a0Blockworks Research\u2019s Daily Debrief<\/a>.<\/strong><\/p>\n Can\u2019t wait? Get our news the fastest way possible.\u00a0Join us on Telegram<\/a>\u00a0and follow us on\u00a0Google News<\/a>.<\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Korean financial giant Mirae Asset Securities is teaming up with Polygon Labs to support the growth of tokenized securities networks. The move comes as more institutions have launched initiatives in the segment. Polygon Labs is set to be a \u201ctechnical consultant\u201d in the Mirae Asset Security Token Working Group, the companies revealed Wednesday.\u00a0 The consortium […]<\/p>\n","protected":false},"author":2,"featured_media":151213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-151212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=151212"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151212\/revisions"}],"predecessor-version":[{"id":151219,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151212\/revisions\/151219"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/151213"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=151212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=151212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=151212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n