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Mirae Asset Securities, a South Korean company, has formed a partnership with Polygon Labs to advance tokenized securities networks.
Under this partnership, Polygon Labs will serve as a consultant for Mirae Asset Securities’ Security Token Working Group. Together, the two companies will collaborate on building the infrastructure for platforms that tokenize assets. Their primary goal is to become global leaders in asset tokenization.
Polygon, previously known as Matic Network, was founded in 2017 to address scalability issues on the Ethereum network. However, in 2021, it rebranded as Polygon with a broader mission of supporting the creation and connection of Ethereum-compatible blockchains.
Polygon’s main objective is to reduce transaction fees and increase transaction speed on the Ethereum network through a layer-2 scaling solution, making decentralized applications (dApps) more user-friendly and efficient.
What is asset tokenization?
Asset tokenization is the process of converting real-world assets, such as real estate, stocks, or commodities, into digital tokens on a blockchain. These tokens represent ownership or a share in the underlying asset.
Asset tokenization offers several benefits, including increased liquidity, fractional ownership, and accessibility to a wider range of investors, as well as easier and more efficient trading and transfer of assets. It can democratize access to traditionally illiquid and high-value assets, making them more accessible to a broader range of investors.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
