Hassan Maishera
TL;DR
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Korean financial giant Mirae Asset Securities has entered into a strategic partnership with Polygon Labs.
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The partnership will see Mirea support the growth of tokenized securities networks.
Polygon Labs Partners With Mirea
Korean financial giant Mirae Asset Securities has partnered with Polygon Labs to support the growth of tokenized securities networks. The two companies announced this latest development on Tuesday.
As part of the partnership, Polygon Labs will serve as a technical consultant in the Mirae Asset Security Token Working Group.
The financial giant is working on building the infrastructure for tokenized securities platforms. Mirea is also focused on developing the technology needed to issue and distribute tokenized securities.
Ahn In-sung, head of Mirae’s digital division, pointed out that the Korean company wants to become a global leader in the field of tokenized securities.
Mirae Asset Securities is a subsidiary of Mirae Asset Financial Group, a leading Korean financial entity with over $500 billion in assets under management.
While commenting on this latest development, Polygon Labs Executive Chair Sandeep Nailwal stated that;
“[Mirae’s] foray into tokenization will undoubtedly help accelerate the mass adoption of Web3 among other financial institutions. At the same time, Mirae’s initiatives will also greatly contribute to establishing interoperability between South Korea’s domestic financial systems and their foreign counterparts.”
This latest cryptocurrency news comes as major financial institutions globally have embarked on various tokenization initiatives in recent years.
So far, BlackRock, JPMorgan, the Monetary Authority of Singapore, and WisdomTree have all either shown interest or started experimenting with tokenized securities.
