Today, many prominent figures in asset tokenization announced the creation of an association to advance its progress.
The Tokenized Asset Coalition (TAC) has been established by seven pioneers in decentralized finance (DeFi).
This newly formed advocacy organization, as announced on September 7th, is dedicated to promoting the widespread adoption of public blockchains, asset tokenization, and institutional DeFi.
This coalition’s founding members are Aave Companies, Centrifuge, Circle, Coinbase, Base, Credix, Goldfinch, and RWA.xyz.
Nonetheless, the TAC charter extends an invitation to any organization that shares our vision of building a unified financial system using blockchain technology.
Member calls, a quarterly publication, event attendance, and the formation of working groups will be among the first activities. According to the organization:
“The tokenization of real-world assets represents the best opportunity for the traditional and crypto financial systems to create a single source of truth, where protocols, platforms, and participants coordinate and combine their efforts to eliminate the inefficiencies of the present financial system.”
On the same day, September 7th, Polygon Labs and South Korea’s Mirae Asset Securities, a financial services firm with more than $565 billion in assets under management, announced the formation of the Mirae Asset Security Token Working Group in conjunction with several companies. Polygon will serve as the technical advisor for this group.
In addition to conducting collaborative research projects, the consortium commits to collaborating on various initiatives.
These initiatives include facilitating the growth of both domestic and international networks and ecosystems related to tokenized securities and organizing events designed to increase brand recognition, among other things.
The Mirae Asset Security Token Working Group examines global best practices and integrates them into South Korea’s infrastructure to facilitate the globalization of South Korea’s financial sector.
The executive chairman of Polygon Labs, Sandeep Nailwal, stated in a statement that “Mirae’s initiatives will […] greatly contribute to establishing interoperability between South Korea’s domestic financial systems and their foreign counterparts,”
