In a new collaboration, Polygon's (MATIC) experts will provide the Mirae Asset Security Token Working Group with consulting support in the issuance of blockchain-based security equivalents.
Polygon, Mirae Asset Securities signed MoU for generation of new tokenized securities
Mirae Asset Securities, a $500 billion financial group from South Korea, has inked a memorandum of understanding (MoU) with Polygon Labs, the development entity behind the Ethereum's (ETH) scaling network, Polygon (MATIC). Mirea also collaborates with SK Telecom's security token consortium, Next Finance Initiative (NFI).
The two teams will also conduct joint research on the practical integration of tokenized securities. This will be of paramount importance to achieving interoperability between South Korea's domestic and foreign financial infrastructures.
As covered by U.Today previously, Polygon (MATIC) recently scored a long-term partnership with SK Telecom, the largest Korean telecommunications operator.
Besides technical and marketing cooperation, Polygon Labs will also be investing in a couple of new-gen Korean start-ups that are partners of SK Telecom.
With instruments offered by Polygon (MATIC), the asset manager can tokenize the equivalents of shares, equities, bonds, bills and other classic financial instruments.
Polygon advances its leadership in tokenization for corporations
In February 2023, Polygon (MATIC) has already launched such a program for Hamilton Lane, a $830 billion investing major. Hamilton Lane opened part of its Equity Opportunities Fund V to a wide group of individual investors via Securitize's feeder fund.
With the support of Polygon (MATIC), the tokenized fund reduced the barriers to entry for all investors by a factor of 250 times, from $5 million to $20,000.
One year ago, Polygon (MATIC) stole all the headlines by unveiling its NFT initiative for Reddit, one of the most popular social media platforms in the world.
With this partnership, Polygon's (MATIC) NFT trading volume spiked by over 1,100% in 24 hours.