Avalanche in deal with ETF giant, yuan stablecoin ‘fake news’: Asia Express

Avalanche inks a deal to tokenize South Korean financial giant’s ETFs, Hong Kong hits back at yuan stablecoin ‘fake news.’ Asia Express.

Mirae Asset Global Investments has signed a memorandum of understanding with Ava Labs, the developer of the Avalanche blockchain, to tokenize fund products and build onchain asset management and settlement systems. 

Mirae Asset Group is one of South Koreas largest independent asset managers. The total assets under management (AUM) in the groups umbrella are estimated at 1.024 quadrillion Korean won (over $730 billion). Mirae Asset Global Investments, which handles the groups overseas investments, as the name suggests, contributes 430 trillion won (about $306 billion).

The global investment arm is also a top 12 exchange-traded fund issuer in the world based on estimated revenue, and 15th by AUM, as of Thursday, according to data from ETFdb.

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