Klaytn, a Layer 1 blockchain network developed by South Korean internet giant Kakao, is working with PT Pelayaran Korindo and NEOPIN to explore tokenization opportunities.
The Klaytn Foundation said in a statement shared with The Block that it plans to develop a real-world asset tokenization business model with ship-related assets owned by Korindo’s shipping subsidiary, whose operations span several industries including natural resources, logistics and heavy industry. , paper, finance and real estate.
“Ship financing typically involves financing shipbuilding and acquisition by offering the ships themselves as collateral,” Klaytn added. “The tokenization of ship assets is expected to significantly increase the accessibility of ship financing for both individual investors and institutions, contributing to the diversification of investment assets for Web 3-based financing.”
The blockchain company explained that its RWA initiative – starting with the tokenization of ship assets – is expected to increase liquidity and diversify investment channels.
Klaytn has not disclosed the potential size or value of such tokenization for ship-related assets as the partnership is still in the memorandum of understanding phase.
Sangmin Seo, representative director of the Klaytn Foundation, said the blockchain network has gained practical experience in the service building process, “from identifying excellent RWA tokenization projects to launching actual services.”