Seven leaders in decentralized finance (DeFi) have banded together to form the Tokenized Asset Coalition (TAC). The new advocacy group will work toward the adoption of public blockchains, asset tokenization and institutional DeFi, it announced Sept. 7.<\/p>\n
Aave Companies, Centrifuge, Circle, Coinbase, Base, Credix, Goldfinch and RWA.xyz are the coalition\u2019s founding members, but membership is open to \u201cany organization that shares our vision to create a unified financial system on the blockchain,\u201d according to the TAC charter.<\/p>\n
Related: Coinbase CEO reveals top 10 crypto ideas he\u2019s urging devs to work on<\/em><\/strong><\/p>\n Initial activities will include member calls, a quarterly publication, event attendance and the creation of working groups. According to the group:<\/p>\n \u201cThe 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.\u201d <\/p><\/blockquote>\n Also on Sept. 7, Polygon Labs and South Korea\u2019s Mirae Asset Securities, a financial services company with over $565 billion in assets under management, announced the formation of the Mirae Asset Security Token Working Group, along with \u201cvarious companies.\u201d Polygon will serve as a technical consultant for the group.<\/p>\n Besides conducting joint research, the consortium promises to \u201ccollaborate on various initiatives such as helping domestic and international tokenized securities networks and ecosystems grow, organizing events to enhance brand awareness, and more.\u201d<\/p>\n The Mirae Asset Security Token Working Group will specifically aim to look at international best cases and integrate them into South Korean infrastructure to help globalize South Korea\u2019s financial sector. \u201cMirae\u2019s initiatives will [\u2026] greatly contribute to establishing interoperability between South Korea\u2019s domestic financial systems and their foreign counterparts,\u201d Polygon Labs executive chairman Sandeep Nailwal said in a statement. <\/p>\n