PiLab Technology and Mirae Asset Securities to build Web3 infrastructure to navigate tokenized securities market

Korean and Indonesian firms join forces to tokenize shipping assetsCentralized decentralized finance (CeDeFi) platform NEOPIN said Wednesday that it has signed a business agreement with the Klaytn Foundation, South Korean juggernaut Kakao’s Layer 1 public blockchain, and Pelayaran Korindo, the shipping arm of Southeast Asian conglomerate Korindo, to tokenize real-world assets (RWAs).Photo by Andy Li on UnsplashRevolutionizing shipping financeThe three companies will first tokenize shipping-related assets owned by Pelayaran Korindo. This integration of digital assets into the maritime industry — which up until now has been under the umbrella of traditional finance — is expected to increase accessibility to shipping investments not only for institutional investors but also for individual investors.Pelayaran Korindo specializes in comprehensive shipping logistics mainly in Indonesia. Under the newest collaboration, the company plans to enhance the accessibility of its RWAs to Web3 companies as well as share its knowledge on localization and partner networks. It aims to play an essential role in the joint venture by leading the decentralization of traditional finance and promoting the widespread adoption of RWA tokenization.On the other hand, NEOPIN, along with the Klaytn Foundation, plans to leverage its expertise in CeDeFi to help Pelayaran Korindo digitize and liquify their assets while optimizing the plaform’s user inferface.Ushering in an era of RWA tokensThe partnership is also a part of the Klaytn Foundation’s efforts to expand its ecosystem through RWA-related endeavors. By tokenizing RWAs and producing certifications of digital ownership, the enterprise hopes to popularize blockchain and create value through real-world use cases. To achieve this, the foundation will work with RWA tokenization experts both in Korea and overseas to build a business model that is profitable, technologically feasible and regulatory compliant.“The Klaytn blockchain enables the construction of a digital asset trading platform with fast processing speed and low fees that can satisfy both token issuers and also regular users,” explained Seo Sang-min, Representative Director at the Klaytn Foundation. “The foundation has accumulated practical experience in the entire service construction process, from discovering promising RWA tokenization projects to launching real services. Moving forward, we will collaborate with Pelayaran Korindo and NEOPIN to actualize various global RWA tokenization initiatives, starting with maritime finance.”NEOPIN’s CEO Ethan Kim also mentioned the company’s intent to work with Pelayaran Korindo and the Klaytn Foundation to introduce attractive RWA investment products that are easy to navigate and have strong factors of appeal, thus leading the global RWA market in maritime finance.

GroundX releases membership NFT for JND Studios’ character figures on Klip DropsGroundX, the blockchain subsidiary of South Korean conglomerate Kakao, has teamed up with JND Studios — the only hyper-realistic figure maker in South Korea — to drop a membership non-fungible token (NFT) collection on Klip Drops, its digital art curation gallery and NFT platform, according to an official announcement on Monday (local time).Photo by Choong Deng Xiang on UnsplashExclusive accessJND Studios’ figures are known for being hard to acquire, as they are often made in small batches that sell out quickly. Owners of the membership NFT will get the exclusive opportunity to be the first to purchase products from the company’s K-Star Figures lineup, which features figures of popular characters from South Korean movies and dramas. This will allow the NFT owners to secure the items before their official release without the risk of them selling out prematurely.The first character from the lineup — actor Choi Min-sik as Oh Dae-su from the critically acclaimed film “Oldboy” — will be gifted to customers who purchase the NFT. The product is valued at KRW 3 million (approximately $2,300), according to JND Studios. A figure of actress Kim Hye-soo as the iconic Madam Jung from the movie “Tazza” will also be unveiled early next year.The sales period for the NFT drop will run until Jan. 3 with a limited quantity available for purchase. Buyers can link their Klip wallet on the JND Studios website, verify the NFTs they own, and then purchase the K-Stars membership NFT to get their hands on the upcoming K-Star Figures.Spearheading NFT integrationGroundX is leveraging Klip Drops to promote the widespread adoption of NFTs by implementing them in diverse sectors, such as art, retail and culture, where they can be used as membership vouchers, tickets or even coupons.

OKX Ventures, the investment wing of the Seychelles-based cryptocurrency exchange OKX, has disclosed a strategic A-round investment in Polyhedra Network. Details of the investment have been outlined through a press release published via PRNewswire on Tuesday. Specializing in the creation of Web3 infrastructure, Polyhedra Network places a premium on interoperability, scalability and privacy, leveraging advanced zero-knowledge (ZK) proof technology.Photo by Precondo CA on UnsplashInteroperability with privacyA ZK proof provides the ability for one party to cryptographically prove to another party that it possesses a certain piece of information without having to reveal the actual underlying information to the other party. Central to Polyhedra Network's product offering is its zkBridge protocol, a system facilitating trustless and efficient cross-chain infrastructure for both layer-1 and layer-2 interoperability. The protocol empowers the receiving chain to verify specific state transitions on the sending chain. This approach ensures robust security without external assumptions, effectively reducing the costs associated with on-chain verification. Polyhedra Network made an initial impact in 2023 with the launch of the "zkBridge Mainnet Alpha." That product enabled interoperability over 20 layer-1 and layer-2 blockchains, including well-known networks such as Bitcoin, Ethereum, BNB Chain and Arbitrum. Distributed proof systemThe innovative strides of Polyhedra Network, which was founded in the United States by James Zhang, Tiancheng Xie and Nikhil Shah, continued in 2023 with the introduction of deVirgo, a novel distributed proof system expediting proof generation. The deVirgo protocol also incorporates recursive proofs which trim on-chain proof verification costs associated with zkBridge. Last month, Polyhedra Network unveiled its Bitcoin messaging protocol with zkBridge, ushering trustless interoperability into the Bitcoin ecosystem through the use of ZK-proof technology. Asian backingBy championing entrepreneurs contributing to the blockchain industry's advancement, OKX Ventures is helping to build innovative companies, bringing global resources and historical experience to the forefront of blockchain projects. It is one of many Asia-centric venture firms to do so. Polyhedra has secured backing from Hong Kong’s Animoca Brands and HashKey Group, Singapore’s UOB Venture Management, NGC Ventures, Signum Capital and Foresight Ventures, alongside KuCoin Ventures. In an initial funding round in February 2023, the UC Berkeley team attracted $10 million in funding. By April, a pre-Series A round had raised a further $15 million. Dora Yue, the founder of OKX Ventures, expressed their honor in participating in the investment in Polyhedra Network's interoperability infrastructure. Yue lauded the creativity demonstrated by Polyhedra Network's team in developing advanced ZK-proof mechanisms, emphasizing the balance achieved between ZK interoperability and scalability. OKX Ventures, with an initial capital commitment of $100 million, is committed to supporting Polyhedra Network's vision of seamlessly connecting the Web2 and Web3 worlds, aiming to attract a more extensive user base to the industry. As the investment arm of the global crypto exchange platform, it dedicates itself to exploring top-tier blockchain projects on a global scale. Its focus is on fostering cutting-edge blockchain technology innovation, aspiring to support the healthy development of the global blockchain space and investing in long-term structural value.