$500 Billion Asset Manager Mirae Partners with Polygon in New Web3 Technology Push

cryptonews.com:

South Korean asset management giant Mirae Asset Securities has partnered with Polygon Labs to advance tokenization and Web3 onboarding within traditional finance.

Serving as a technical consultant for The Mirae Asset Security Token Working Group, Polygon Labs will build the infrastructure needed to issue and trade tokenized securities on Polygon – a layer 2 scaling solution for Ethereum. That means converting real-world assets such as real estate, bonds, art, and equities into digital tokens on a blockchain.

The consortium operates independently of Mirae Asset, comprising various entities including Linger Studio and Coin Plug. Hana Financial, and SK Telecom's Next Finance Initiative (NFI) which is focused on security tokens, are also operated separately.

“Through technical collaboration with Polygon Labs, Mirae Asset Securities aims to establish global leadership in the field of tokenized securities," said Ahn In-sung, head of the digital assets division at Mirae Asset Securities, in a press release on Thursday.

Polygon Lab's Executive Chairman, Sandeep Nailwal, anticipates that Mirae Asset Securities' efforts will accelerate the widespread adoption of Web3 technologies within the financial sector. He added:

“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."

The move towards asset tokenization is gathering momentum globally. Major financial institutions like Franklin Templeton and Hamilton Lane have already initiated tokenization projects on the Polygon platform. Furthermore, the Monetary Authority of Singapore's experimental tokenization initiative, Project Guardian, successfully conducted