South Korea’s largest financial group Mirae Asset Securities has announced that it’s teaming-up with esteemed Ethereum Layer-2 solution Polygon to advance asset ‘tokenisation’ within DeFi.

The project- which hasn’t been given a name yet- will look to innovate around the technical infrastructure that issue, exchange, and distribute tokenised securities. Use cases here include tokenising ownership over real-world assets such as real estate, bonds, equities, and fine art onto the blockchain, 

In turn, the endeavour hopes to make an impact across cutting-edge technologies from the tokenised securities space, which will also help advance global Web3 adoption through more people owning things via blockchain verification. It also seeks to contribute and establish ‘interoperability between South Korea’s domestic financial systems and their foreign counterparts’.

With regards to the logistics involved, Mirae- which has $500 billion assets under management- will provide the funds and assets, whilst Polygon Labs will act as a technical consultant within The Mirae Asset Security Token Working Group - which, along with Linger Studio and Coin Plug, includes independent corporate bodies such as Hana Financial and SK Telecom's security token consortium, Next Finance Initiative (NFI).

Mirae’s move into tokenisation technologies comes in wake of fellow investment firms Hamilton Lane and Franklin Templeton beginning tokenised explorations on Polygon, as well as Singapore’s Monetary Authority who launched foreign exchange and sovereign bond transactions on Polygon under the ‘Project Guardian’ initiative.

These efforts exist within an asset tokenisation industry that’s tipped to rise 50-fold by 2030 to reach a valuation of $16.1 trillion (per ADDX). At the time, this is forecast to equate to around 10% of global GDP. 

And as we can speculate, this massive figure may arise through innovation allowing tokenisation to make its way into more trivial contexts of asset ownership, such as within cars and bespoke designer clothing items. 

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This article is intended for educational purposes and is not financial advice.