Mirae Asset Global Investments and AVA Labs, the developer behind the Avalanche Blockchain, signed a memorandum of agreement (MOU) on Thursday to jointly develop Tokenization and Operation and Settlement Systems on the chain, the companies said.
Avalanche said on X (formerly Twitter): “By combining the $ 316 billion scale of Mirae with the blockchain from Avalanche, the two companies want to set new standards for Tokenized Funds-where Global Capital connects with the next generation of technology.”
According to the agreement, the two companies will conduct joint research and feasibility studies on the tokenizing of fund products, working to make contact with the global institutional ecosystem and pilot projects to build operations and payment rails. The partnership is explicitly aimed at converting selected Mirae Asset products in tokenized instruments where local rules allow, and when building the operational backbone, custody, settlement and payments that are necessary to run on a scale.
Mirae Asset said that it will use the high transit, low latency and business-oriented Layer-1 infrastructure of Avalanche to tokenization in important jurisdictions such as the United States and Hong Kong, markets where regulatory frameworks develop and, in some cases, already give permission to the granting permit for financial products. The aim is to create a scalable tokenization frame that can be applied in the preparation of Mirae Asset’s International Fund.
Speed up its digital transformation
Founded in 2003 with the launch of a subsidiary of Hong Kong, the first overseas base of the company, Mirae Asset has grown into a global manager who is active in 16 regions, with overseas assets that form about 45% of his total assets in control. The company said that cooperation with AVA Labs is a strategic step in accelerating its digital transformation and expanding customer investment options.
AVA Labs, which develops and maintains the Avalanche Minnet, has collaborated with a series of financial and public partners to demonstrate Real-World use cases for tokenization and programmable money, from experiments with large banks to support stabilecoins on a national scale and regulated, fiat-backed token.
Recent projects involving Avalanche include proof-of-concept with banks and the use of state and sovereign-backed stablecoin initiatives, which demonstrate the emphasis of the network on speed, compliance and institutional tools.
John Nahas, Chief Business Officer of AVA Labs, stated: “Tokenization becomes a new standard in global finances, and this partnership reflects a trend that extends further than Asia into the world. The combination of the worldwide assets management scale of Mirae Asset and the Infrastructure of the Intititational quality of Avalanche will be the future of Avalanche” “” “” “” “” “
Kim Young-Hwan, president of the innovation and global management department of Mirae Asset, described the MOU as a “important step in strengthening our digital transformation possibilities as a global asset manager.” He added that combining the blockchain technology of AVA Labs with the product and operational expertise of Mirae Asset will help to accelerate Real-World Activa (RWA), offer new investment experiences to customers and the company positioning as a leader in the Evoluing Activation.
The deal follows a broader push of traditional financial players for tokenized securities and payment rails on permission and permissionless networks without permission. If the pilots between Mirae Asset and AVA Labs succeed, they could accelerate the institutional adoption by demonstrating operational workflows, issue, custody, settlement and Fiat that meet the legal and investor requirements.
Mirae Asset and AVA Labs are planning to immediately start joint studies and pilot work; The two companies said that further details about pilot timing and specific products will be announced as those projects progress.