Mirae Asset And Polygon Forge Blockchain Partnership
Seoul-based Mirae Asset Securities has entered into a strategic partnership with Polygon Labs, a prominent player in the blockchain space, with a focus on advancing the realm of tokenized securities networks. The collaboration aims to harness the power of blockchain technology to revolutionize the asset tokenization landscape.
The Korean company Mirae Asset Securities has closed a partnership with Polygon Labs, focusing on the growth of tokenized securities networkshttps://t.co/O4vvovVaer
— crypto.news (@itscrypto_news) September 7, 2023
Transforming Traditional Assets
Under the newly forged partnership, Polygon Labs will serve as a consultant within Mirae Asset’s Security Token Working Group. Together, these two entities will pool their expertise and resources to build the essential infrastructure for tokenized securities platforms. The overarching objective of this partnership is to solidify their positions as global leaders in the burgeoning field of asset tokenization. By joining forces, Mirae Asset Securities and Polygon Labs are set to reshape the way traditional assets are managed and traded.
Polygon Labs, previously known as Matic Network, was founded in 2017 by a team of visionary entrepreneurs. Initially conceived as a solution to Ethereum’s scalability challenges, the project has since evolved to become Polygon, with a broader mission of facilitating the creation and interconnection of Ethereum-compatible blockchains. The core focus remains on reducing transaction fees and dramatically increasing transaction throughput on the Ethereum network. Polygon’s unique value proposition lies in its provision of a layer-2 scaling solution, enhancing user experiences and rendering decentralized applications (dApps) more accessible and efficient. This initiative aligns with the broader industry goal of making blockchain technology more user-friendly and scalable.
Fractional Ownership: The Promise of Asset Tokenization
Asset tokenization, a pivotal concept gaining momentum, involves the conversion of physical or financial assets into digital tokens, which can then be seamlessly traded on blockchain networks. This approach has captured significant attention for its potential to disrupt the traditional asset management and transaction landscape. The primary drivers behind asset tokenization are improved liquidity and accessibility. Tokenized assets are easily transferable and tradable across borders, effectively eliminating the need for intermediaries and reducing transaction costs.
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Moreover, asset tokenization offers unparalleled transparency and security. Each token represents a specific ownership stake in the underlying asset, with all transactions meticulously recorded on the blockchain, resulting in an immutable and auditable ledger. This heightened transparency significantly reduces the risk of fraud. Furthermore, asset tokenization facilitates fractional ownership, democratizing access to high-value assets that were once out of reach for most investors. Real estate holdings, fine art collections, and other valuable assets can be divided into smaller, tradable tokens, democratizing ownership and investment opportunities.
