ChainCatcher reported that Ondo Finance has announced the signing of a memorandum of understanding with Mirae Asset, the South Korean asset management giant. Under the arrangement disclosed by Ondo Finance, the two parties will work through Ondo Global Markets, a tokenized securities platform, to tokenize the Global X ETF product line under Mirae Asset.
According to the agreement, the cooperation will begin with Global X ETF products listed in the United States. After that initial stage, the scope will expand to fund products listed in Europe, Hong Kong, Japan, Canada and Australia. The report did not disclose the specific first batch of products, a launch timetable or the scale of the tokenization plan.
The division of responsibilities is also set out in the agreement. Mirae Asset will continue to act as the asset manager for the underlying ETF assets, while Ondo will provide the tokenization infrastructure and on-chain distribution services. The MOU therefore establishes a cooperation framework around Ondo Global Markets, covering the management of the underlying fund assets, the technical infrastructure for tokenization and the distribution of the tokenized products on-chain.