Pelayaran Korindo and NEOPIN join forces to advance the global RWA tokenization business
Klaytn Foundation signed an MOU with PT. Pelayaran Korindo, a multinational conglomerate based in Indonesia, and NEOPIN, a global CeDeFi protocol, to advance 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.
Ship finance typically involves the financing of ship building and purchasing by offering the ships themselves as collateral. Globally, the ship finance market – including leasing, export finance and alternative providers – amounted to $525 billion last year, and the Asia-Pacific (APAC) region’s share of the global market has grown healthily from 40% in the year of its inception to 44% last year. Klaytn Foundation believes that 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.
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 DeFi platform know-how to digitize, liquidize, and optimize PT Pelayaran Korindo’s tokenized assets.
As a logistics company that operates an Indonesia-centric shipping business, PT. Pelayaran Korindo will share not only Web3’s access to real-world assets, but also its global business, localization experience and partner network in Southeast Asia. This is expected to play an integral role in the success of this joint project to lead the digitalization of traditional finance and popularize the RWA tokenization industry.
NEOPIN also plans to introduce attractive RWA products that are more accessible and have strong differentiation points. Together with PT. Pelayaran Korindo and Klaytn Foundation, which has been continuously developing the blockchain ecosystem, they will jointly lead the global RWA market, starting with ship finance.
“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.”
About PT PELAYARAN KORINDO
PT PELAYARAN KORINDO started out as a company transporting wood, plywood, and crude palm oil, and has since grown into a shipping company that has contracts with companies in all industries, including Indonesian steel, oil refining, chemicals, and fertilizers, transporting them throughout Indonesia.
About NEOPIN
Since 2017, NEOPIN has accumulated blockchain expertise and technology by participating as a node validator (network validator) operator for various global blockchains such as Ethereum, Tron, Cardano, and Cosmos. Last year, we launched the CeDeFi protocol NEOPIN to provide a safe and convenient DeFi platform usage environment. This year, we were selected as an Abu Dhabi Investment Office (ADIO) Innovation Program company in the United Arab Emirates (UAE) to attract direct and indirect investments, and we are 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, we are participating in the RWA consortium with Elysia and Galaxia Metaverse, and are actively developing RWA business in Korea and Japan through partnerships with Japanese blockchain company Cabinet.
