In order to jointly promote RWA tokenization, Indonesian firm Pelayaran Korindo and the CeDeFi protocol NEOPIN have partnered with South Korean internet giant Kakao’s Layer1 blockchain Klaytn. By creating RWA tokenization business models, the foundation and NEOPIN intend to establish the Asian RWA tokenization market. Pelayaran Korindo’s ship-related assets will be the first to be tokenized.
According to Klaytn, ship financing usually entails using the ship as collateral to provide funding for the building and acquisition of ships. Last year, the ship financing market—which encompasses leasing, export financing, and alternative suppliers—reached $525 billion globally, with 44% of the market share coming from the Asia-Pacific (APAC) region. The diversification of financial investment assets based on Web 3 is anticipated to be aided by the tokenization of ship assets, which is anticipated to greatly increase the accessibility of ship finance to institutions and private investors.