Tokenized Asset Coalition Forms to Advance Blockchain Finance

The Tokenized Asset Coalition (TAC) is an organization comprised of seven innovators in decentralized finance (DeFi).

The new advocacy group will pursue the adoption of public blockchains, asset tokenization, and institutional DeFi, the group announced on September 7.

The coalition’s founding members are Aave Companies, Centrifuge, Circle, Coinbase, Base, Credix, Goldfinch, and RWA. xyz, but membership is open to “any organization that shares our vision to create a unified financial system on the blockchain,” per the TAC charter.

Initial activities will consist of member contacts, a quarterly publication, attendance at events, and the formation of working groups.

“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.”

According to the group, Polygon Labs and Mirae Asset Securities, a South Korean financial services company with over $565 billion in assets under management, announced the formation of the Mirae Asset Security Token Working Group on September 7 alongside “various companies.

Polygon will function as the group’s technical consultant. In addition to conducting joint research, the consortium intends to “collaborate on a variety of initiatives, including helping domestic and international tokenized securities networks and ecosystems grow and organizing events to increase brand awareness, among others.

The Mirae Asset Security Token Working Group will examine international best practices and integrate them into South Korean infrastructure to globalize the South Korean financial sector.

Sandeep Nailwal, executive chairman of Polygon Labs, said in a statement, “Mirae’s initiatives will greatly contribute to establishing interoperability between South Korea’s domestic financial systems and their foreign counterparts.