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$500 Billion Asset Manager Mirae Partners with Polygon in New Web3 Technology Push
South Korean asset management giant Mirae Asset Securities has partnered with Polygon Labs to advance tokenization and Web3 onboarding within traditional finance.
Serving as a technical consultant for The Mirae Asset Security Token Working Group, Polygon Labs will build the infrastructure needed to issue and trade tokenized securities on Polygon – a layer 2 scaling solution for Ethereum. That means converting real-world assets such as real estate, bonds, art, and equities into digital tokens on a blockchain.
The consortium operates independently of Mirae Asset, comprising various entities including Linger Studio and Coin Plug. Hana Financial, and SK Telecom's Next Finance Initiative (NFI) which is focused on security tokens, are also operated separately.
“Through technical collaboration with Polygon Labs, Mirae Asset Securities aims to establish global leadership in the field of tokenized securities," said Ahn In-sung, head of the digital assets division at Mirae Asset Securities, in a press release on Thursday. Thodex CEO Gets 11,000-Year Sentence Over $2 Billion Crypto Exchange Collapse
Faruk Fatih Özer, the founder of Thodex, along with his sister and brother, has been sentenced to over 11,000 years in prison and fined 135 million liras for their involvement in the collapse of the Turkish crypto exchange. Thodex, once one of Turkey's largest exchanges, went offline in April 2021, leaving over 400,000 members unable to access their deposits of $2 billion in cryptocurrencies. Özer, who had fled to Albania, was arrested in August 2022 and extradited to Turkey in April 2023. #ContentStar# The cryptocurrency market is showing signs of optimism as Bitcoin breaks the $26,000 barrier, marking nearly a 2% daily growth. Ethereum, XRP, Solana, and Polkadot have also seen varied positive movements, while Polygon (MATIC) experienced a slight decline. Meme coins like Dogecoin and Shiba Inu show mixed sentiment, with Dogecoin rising approximately 0.33% and Shiba Inu's token price dipping slightly by 0.02%. The global crypto market capitalization has surged to $1.06 trillion, but the 24-hour market volume has declined. Notably, Pepe Coin has displayed consecutive bullish days, rising by nearly 1%, while Astar's ASTR token, XDC Network's XDC token, and Synthetix's SNX token have shown varying price movements in the past day. #ContentStar# First Mover Americas: Bitcoin Shows Signs of Life
The latest price moves in crypto markets in context for Sept. 8, 2023. Bitcoin showed some signs of stirring from its September stupor late on Thursday, rising around 3% to $26,400, before dropping back below $26,000 during the European morning. The CoinDesk Market Index (CMI) also hit its highest point this month, rising over 2% before retreating. Bitcoin has mostly languished below $26,000 this month as traders awaited clarity around the big regulatory hotspots, such as the SEC’s decision on the listing of a spot bitcoin ETF in the U.S. September is a difficult month for bitcoin, which has posted negative returns every year since 2016. So far, 2023 looks so far to be no exception.