NEOPIN

Bank AI

Klaytn

Foundation

<ul> 
 <li><em>PT Pelayaran Korindo seeks to spearhead Asia’s Web 3.0 RWA industry by developing an RWA token business model, starting with the tokenization of ship assets</em></li> 
 <li><em>Through the digitization of ship finance—a sizable segment of traditional finance—the RWA initiative is expected to enhance liquidity, diversify investment channels and increase investor choices.</em></li> 
 <li><em>Previously the domain of institutional investors, the RWA tokenization project will also significantly expand access to ship finance opportunities for retail investors.</em></li> 
</ul> 
<p>Klaytn Foundation, established to expand the business of Klaytn, South Korea’s leading global Layer 1 blockchain platform, has signed a memorandum of understanding (MOU) with PT PELAYARAN KORINDO, a multinational conglomerate based in Indonesia, and NEOPIN, a global CeDeFi protocol, to advance Real World Asset (RWA) tokenization. Through their joint expertise in Web3 finance, the foundation and NEOPIN plan to kickstart the nascent Asian RWA tokenization industry by developing a reliable and practical RWA tokenization business model, starting with the tokenization of ship-related assets held by PT Pelayaran Korindo.</p> 
<p>Ship finance typically involves the financing of ship building and purchasing by offering the ships themselves as collateral. According to market research firm Petrofin Research, the global ship finance market was valued at $525 billion last year, including transactions conducted by banks and other traditional financial institutions. In addition, the Asia-Pacific (APAC) region’s share of the global market has rapidly expanded from 40% in the year of its creation to 44% last year.<sup>1 </sup>The tokenization of ship assets is expected to significantly expand the accessibility of ship finance to individual investors as well as institutions, contributing to the diversification of investment assets for web 3-based finance.</p> 
<p>Over the past year, Klaytn Foundation has been expanding RWA-related use cases across the Klaytn ecosystem to promote blockchain mainstream adoption. To this end, they have been working with companies specializing in RWA tokenization to build effective business models from technical, regulatory, and business perspectives. Meanwhile, NEOPIN, the operator of a successful CeDeFi service that merges the trust and stability of decentralized finance (DeFi) with the safety nets of KYC and AML from centralized finance (CeFi), plans to utilize their <a href="http://thenewscrypto.com/tag/defi/" target="_blank" rel="noreferrer noopener">DeFi </a>platform know-how to digitize, liquidize, and optimize PT Pelayaran Korindo’s tokenized assets.</p> 
<p>Kim Yong-ki, CEO of NEOPIN, said, “NEOPIN plans to introduce attractive RWA products that are more easily accessible and have strong differentiation points. Together with PT Pelayaran Korindo and Klaytn Foundation, which has been continuously growing Klaytn’s blockchain ecosystem, we will lead the global RWA market, starting with ship finance.”</p> 
<p>“The Klaytn blockchain’s fast processing speeds and low fees make it possible to build digital asset trading services that satisfy both investment product issuers and general users,” said Sangmin Seo, Representative Director of Klaytn Foundation. “The foundation has gained practical experience in the service building process, from identifying excellent RWA tokenization projects to launching actual services. Beyond ship financing, we look forward to working with PT Pelayaran Korindo and NEOPIN to realize more global RWA tokenization projects.”</p> 
<ol type="1"> 
 <li>Petrofin Research’s report on this year’s ship finance market, “Key Developments and Growth in Global Ship Finance” (<a href="https://www.petrofin.gr/wp-content/uploads/2023/07/Petrofin-Global-Bank-Research-and-Petrofin-Index-of-Global-Ship-Finance-end-2022.pdf" target="_blank" rel="noreferrer noopener nofollow">link</a>).</li> 
</ol> 
<h2 class="wp-block-heading" id="about-pt-pelayaran-korindo">About PT Pelayaran Korindo</h2> 
<p>Founded in Indonesia in 1969, PT Pelayaran Korindo is a global company with more than 20,000 employees and more than 30 affiliated companies in various industries, including natural resources, logistics, heavy industry, paper, finance, and real estate. Now one of the largest business groups in Indonesia, PT Pelayaran Korindo has made significant contributions to the country’s economic development. In particular, PT PELAYARAN KORINDO, the shipping subsidiary of PT Pelayaran Korindo, grew through the transportation of logs, plywood, and crude palm oil, which were the group’s cargoes, and is now a specialized shipping company that has contracts with companies in all industries, including Indonesian steel, oil refining, chemicals, and fertilizers, and provides transportation throughout Indonesia.</p> 
<h2 class="wp-block-heading" id="about-neopin">About NEOPIN</h2> 
<p>Since 2017, NEOPIN has been building blockchain expertise and technology by participating as a node validator (network verifier) operator for various global blockchains such as Ethereum, Tron, Cardano, and Cosmos. Last year, the NEOPIN CeDeFi protocol was launched to provide a safe and convenient DeFi platform experience. This year, the company was selected as an Abu Dhabi Investment Office (ADIO) Innovation Program company in the United Arab Emirates (UAE) to attract direct and indirect investment, and is working with the Abu Dhabi Global Market (ADGM), a UAE special economic zone, to create the world’s first public-private partnership for DeFi regulations. In addition, NEOPIN is participating in the RWA consortium alongside Elysia and Galaxia Metaverse, and is actively developing their RWA business in Korea and Japan through partnerships with Japanese blockchain company Cabinet.</p> 
<h2 class="wp-block-heading" id="about-klaytn">About Klaytn</h2> 
<p>Developed by leading Korean IT company Kakao, Klaytn is a global Layer 1 public blockchain designed to power tomorrow’s on-chain world. With the lowest transaction latency amongst leading blockchains, enterprise-grade reliability, and a developer-friendly environment, Klaytn provides a seamless experience for users and developers that is second to none. Since its launch in June 2019, Klaytn has been accelerating blockchain mass adoption through a broad array of use cases from DeFi to real-world assets, entertainment and gaming, and even the Bank of Korea’s CBDC pilot project. In 2020, Klaytn Foundation was established to facilitate decision-making and the adoption and development of new technologies, so as to ensure that Klaytn can fulfill its role as an open- trusted, and sustainable <a href="http://thenewscrypto.com/news/blockchain-news/" target="_blank" rel="noreferrer noopener">blockchain</a> platform for developers and users alike. Today, it is one of the only globally competitive Web 3.0 ecosystems developed in South Korea, generating more than 1 billion transactions from over 300 decentralized applications.</p> 
<h2 class="wp-block-heading" id="u-for-press-inquiries-u"><u>For press inquiries:</u></h2> 
<h4 class="wp-block-heading">Klaytn Foundation</h4> 
<ul> 
 <li>Chris Koo</li> 
 <li>Corporate Communications &amp; Content Manager</li> 
 <li>chris.koo@klaytn.foundation</li> 
</ul> 
<h4 class="wp-block-heading">NEOPIN</h4> 
<ul> 
 <li>Sooyoung Jung</li> 
 <li>Head of PR</li> 
 <li>010-9796-5150 | rayjung@neopin.io</li> 
</ul> 
<p><strong>Disclaimer</strong>: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.</p>

Klaytn Foundation, PT Pelayaran Korindo, and NEOPIN to Jointly Advance RWA Tokenization

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