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Korean Tokenized Assets Firm Mirae Asset Securities Teams Up with Polygon Labs

by Dan K
Sep 7, 2023 - 7:00 pm
in Blockchain
South Korean Financial Regulator Discusses Ban on Credit Card Cryptocurrency Purchases.

The Partnership at a Glance

Mirae Asset Securities, a prominent South Korean company, has recently entered into a strategic alliance with Polygon Labs. This partnership is structured around enhancing the development and infrastructure of tokenized securities platforms.

Polygon Labs will function as a consultant to the Mirae Asset Security Token Working Group, with both organizations focusing their combined efforts on establishing themselves as global leaders in the world of asset tokenization.

Delving Deeper into Polygon’s Background

Before adopting the name Polygon in 2021, this project was known as the Matic Network, established in 2017 by a group of visionaries, including Jaynti Kanani and Sandeep Nailwal. Initially focused on solving the scalability issues faced by the Ethereum network, the company widened its mission to support the establishment and integration of Ethereum-compatible blockchains.

Polygon’s core objective remains to diminish transaction fees and amplify transaction speeds on the Ethereum network, consequently enriching the user experience and promoting the accessibility of decentralized applications (DApps).

Understanding Asset Tokenization

Asset tokenization signifies the transformation of physical or financial assets into digital tokens tradable on a blockchain network. The process promises to revolutionize asset management and transactions by increasing liquidity and accessibility.

This innovation in the financial sector is credited with bringing transparency and security to transactions, attributed to the immutable and auditable ledger that blockchain technology facilitates.

Furthermore, it introduces the concept of fractional ownership, democratizing the investment landscape by allowing a larger pool of investors to partake in the ownership of high-value assets, opening up opportunities previously reserved for a select few.

Looking Forward

With this new collaboration, Mirae Asset Securities and Polygon Labs have their sights set on becoming frontrunners in the asset tokenization landscape, forging a pathway characterized by innovation, security, and inclusivity.

As they work hand in hand, both entities are eager to explore the untapped potentials of tokenized securities platforms, aspiring to shape a future where transactions are seamless, transparent, and devoid of unnecessary intermediaries, paving the way for a new era of financial transactions and asset management.

Tags: BlockchainPolygonSouthKorea
Dan K

Dan K

Dan K, the chief editor, is a visionary wordsmith, shaping narratives with finesse. His discerning eye for detail creates literary masterpieces.

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