Mirae Asset Securities, South Korea's largest financial group with over $500 billion in assets under management, said Thursday that it is working with Ethereum scaling platform Polygon Labs to advance tokenization within finance and boost adoption of Web3 technologies.
Polygon Labs will be a technical consultant in The Mirae Asset Security Token Working Group, which is working to create infrastructure to issue, exchange, and distribute tokenized securities, the asset manager said in the press release shared with CoinDesk.
The group includes several other companies, including Linger Studio and Coin Plug, and operates independently from Mirae, Hana Financial and SK Telecom's security token consortium, Next Finance Initiative (NFI).
"Polygon Labs is a leading global blockchain technology development company that is innovating throughout all aspects of Web3. Through technical collaboration with Polygon Labs, Mirae Asset Securities aims to establish global leadership in the field of tokenized securities," Ahn In-sung, head of the digital assets division at Mirae Asset Securities, said.