Mirae Asset Global Investments said on the 25th that it signed a memorandum of understanding (MOU) with Ava Labs, the developer of the global blockchain platform Avalanche, to jointly develop fund tokenization and on-chain management and settlement systems. Through this agreement, the two companies will pursue multifaceted cooperation, including: ▲ joint research and feasibility review on fund tokenization ▲ linking with the global institutional ecosystem ▲ promoting a pilot project to build an on-chain management and settlement system.
Ava Labs is a blockchain company that develops and operates the Avalanche mainnet, boasting fast processing speed, scalability, and regulatory compliance. It has demonstrated practical use cases across various public and financial sector projects, including the first state-level stablecoin issuance in Wyoming in the United States, blockchain network experiments involving JPMorgan and Citibank, and the issuance of a Japanese yen stablecoin.
With this agreement, the two companies plan to introduce innovative financial solutions incorporating blockchain technology to the market and lead the global digital asset management ecosystem. John Nahas, chief business officer (CBO) at Ava Labs, emphasized, "The combination of Mirae Asset's global management scale and Avalanche's institutional-grade infrastructure will accelerate the future of on-chain asset management."
Kim Young-hwan, president and head of innovation and global management at Mirae Asset Global Investments, said, "By combining Ava Labs' blockchain technology with our product and management expertise, we will accelerate real-world asset (RWA) tokenization, provide customers with a new investment experience, and secure a leading position in the global market."