Korean financial platform Mirae Asset Securities, has teamed up with Polygon Labs to bolster the growth of tokenised securities networks.

Polygon Labs will assume the role of a "technical consultant" within the Mirae Asset Security Token Working Group, as disclosed by the two companies.

The primary focus of this consortium lies in the development of infrastructure for tokenised securities platforms.

To bolster this initiative, Mirae Asset Securities has also welcomed two significant players into the Group - Studio Genius, a domestic content production company, and Treasurer, a luxury collectible piece investment platform.

The goal of this partnership is to advance the commercialisation of tokenised securities related to investments - including but not limited to the film and luxury industry.

The financial platform intends to create the necessary technology for the issuance and distribution of such tokenised securities.

Mirae Moving Towards Blockchain

Mirae Asset Securities operates as a subsidiary of Mirae Asset Financial Group, managing assets totaling $565 billion as of June.

This new working group is distinct from the security token consortium known as the Next Finance Initiative (NFI).

In June, Mirae Asset became a participant in NFI alongside SK Telecom, Hana Financial Group, and others.

Tokenisation on Polygon

Polygon is not new to tokenising securities.

JPMorgan utilised the Polygon blockchain to trade tokenised Japanese yen in the past year as part of the Monetary Authority of Singapore's Project Guardian pilot.

DBS Bank and SBI Digital Asset were also participants in this program.