Mirae Asset Securities, a financial juggernaut managing a colossal $500 billion in assets, has unveiled a groundbreaking partnership with Polygon Labs.
This growing adoption spells good news for MATIC, as the demand for it is expected to surge, driving its price northward.

In an electrifying move within the digital finance arena, Mirae Asset Securities, a financial juggernaut managing a colossal $500 billion in assets, has unveiled a partnership with Polygon Labs. This collaboration aims to turbocharge the asset tokenization drive and supercharge the adoption of cutting-edge Web3 technologies in the financial sector.

Tokenized Securities: A Collective Vision

What’s at stake here? Well, it’s a seismic shift in the realm of digital finance. Mirae Asset Securities and Polygon Labs are poised to delve deep into the practical applications of tokenized securities. Their goal is nothing short of establishing a seamless bridge connecting South Korea’s local financial framework with the global financial infrastructure. As part of this grand endeavor, they’ll also lend their technical prowess to a consortium dedicated to building a securities token platform.

But here’s where it gets even more riveting. Polygon Labs isn’t just another partner; it’s ascending to a pivotal role as the technical advisor for The Mirae Asset Security Token Working Group. This group, on the front lines of innovation, is on a mission to craft an infrastructure for the issuance, exchange, and management of tokenized securities. This exciting collaboration also ropes in significant players like Linger Studio and Coin Plug.

Mirae’s commitment to this venture is unmistakable, setting it apart from other consortiums like the Next Finance Initiative (NFI), a joint venture involving Mirae, Hana Financial, and SK Telecom.

But what’s tokenization, you might wonder? It’s the alchemical process of transforming tangible assets, think real estate or priceless art, into digital tokens residing on blockchain platforms. Notably, industry titans such as Franklin Templeton and Hamilton Lane have already embarked on tokenization odysseys with Polygon. And that’s not all; Project Guardian, a brainchild of the Monetary Authority of Singapore, recently executed foreign exchange and bond transactions on Polygon.

Ah, In-sung, Chief of the Digital Assets Division at Mirae Asset Securities, couldn’t contain his enthusiasm about this strategic alliance. He sees it as a driving force propelling Web3 technologies into the finance sector’s mainstream. He hailed Mirae’s visionary approach and stressed that their tokenization endeavors would harmonize South Korea’s domestic financial structures with their international counterparts.

Polygon Lab’s Executive Chairman, Sandeep Nailwal, echoed this sentiment, emphasizing the pivotal role Mirae is set to play in the broader adoption of Web3 technologies across financial institutions. In his words, “Mirae’s initiatives will significantly enhance the harmony between South Korea’s domestic financial structures and their international analogs.”

The economies of tomorrow will leverage the tools of DeFi being built today, and as this new financial future begins to take shape, asset tokenization will play an important role.

Korea’s largest financial group, Mirae Asset Securities, is joining the @0xPolygon ecosystem.… pic.twitter.com/hRxvosgGTZ

— Polygon | Aggregated (@0xPolygon) September 8, 2023

Binance Takes a Bold Step in the NFT Realm

In another electrifying twist in the crypto world, Binance, the world’s largest crypto exchange, has decided to bid adieu to its Sandbox NFT Staking Program, slated to conclude by the end of this month. The move is part of Binance’s ongoing efforts to revamp and enhance its offerings on the Binance NFT Marketplace, as revealed in an official announcement on September 8.

The changes don’t stop there. Users will no longer have the option to stake their LAND NFTs hosted on the Polygon network, as Binance NFT Marketplace is discontinuing its support for Polygon, effective from September 26. All LAND NFTs will be automatically unstaked and returned to users’ accounts by month-end. Moreover, NFT support on the Polygon network will be completely removed from Binance NFT Marketplace, necessitating users to withdraw their NFTs from the Polygon network on or before December 31.

This move comes hot on the heels of Binance’s decision to delist and remove various trading pairs involving Cardano (ADA) and Polygon (MATIC), following legal tussles with the SEC and CFTC.

Polygon’s Thriving Ecosystem

As Polygon’s ecosystem continues its rapid expansion, it’s poised for an exciting journey ahead. Over the past year, institutions have increasingly embraced Polygon as they enter the vast Web3.0 ecosystem to launch their NFT engagement platforms. This growing adoption spells good news for MATIC, as the demand for it is expected to surge, driving its price northward. Currently trading at about 81% below its all-time high (ATH), Polygon stands ready to ride the wave of growth fueled by its myriad partnerships across the board.