Mirae Asset Securities, South Korea’s largest financial group with assets exceeding $500 billion, announced that it has formed a strategic partnership with leading Ethereum scaling platform Polygon Labs. The collaboration aims to promote tokenization in the financial sector and accelerate the adoption of Web3 technologies.
Polygon Labs will serve as technical advisor within the Mirae Asset Security Token Working Group. This collective effort is geared towards creating the necessary infrastructure for the issuance, exchange and distribution of tokenized securities. The group includes Mirae Asset Securities, as well as leading organizations such as Linger Studio and Coin Plug.
Mirae operates independently of the security token consortium called the Next Finance Initiative (NFI), a collaboration between Hana Financial and SK Telecom.
“Through technical collaboration with Polygon Labs, Mirae Asset Securities aims to establish global leadership in tokenized securities,” said Ahn In-sung, head of Mirae Asset Securities digital assets division, expressing his excitement for the partnership.
Sandeep Nailwal, Chief Executive Officer of Polygon Labs, predicts that Mirae’s tokenization initiative will play an important role in the adoption of Web3 technologies in the financial industry. Nailwal also emphasized that Mirae’s initiatives will significantly contribute to ensuring interoperability between South Korea’s domestic financial systems and their foreign counterparts.