Introducing Galactica, Asia’s first ship financing RWA project

We are excited to announce that Galactica, the RWA joint venture between Kaia DLT Foundation and Indonesian shipping company PT. Pelayaran Korindo (hereafter Pelayaran Korindo), will be launching in early Q4 2024. Galactica will be collaborating closely with InvestaX, which holds an RWA token trading license, to efficiently launch, issue, and promote Asia’s first ship financing RWA project.

Galactica: Opening new opportunities with tokenized ship financing

Pelayaran Korindo is a comprehensive logistics company focusing on shipping operations in Indonesia. The company boasts global business experience, localization expertise in Southeast Asia, and a robust network of partners. Galactica aims to revolutionize the ship purchasing process through tokenization, targeting the Indonesian market which is home to the highest number of islands in the world (about 17,000) and significant demand for ships. Galactica intends to streamline the traditional ship purchasing process by funding ship acquisitions through fractional investment with RWA tokens, benefiting both ship owners and investors.

Revolutionizing Indonesia’s shipping industry

Indonesia is the ideal region for shipping-related RWA projects — the country is rich in minerals, and due to a ban on the export of raw ores, there is an active domestic market — and consequently high maritime transport demand. In 2023, the government set a goal to modernize the shipping industry through the ‘Golden Indonesia 2045’ roadmap, leading to a rise in demand for ships both used and new.

However, Indonesian shipowners face liquidity risks when purchasing ships. Pelayaran Korindo identified that the outdated ship financing system hinders the growth of the shipping industry. As of 2023, most of the 11,422 ships registered in Indonesia are classified as aged, being over 25 years old. Galactica plans to improve global individual investors’ accessibility through the digitalization of ship financing and introducing ship-related RWA token products to the global market.

“We are pleased to introduce a tokenization project for a new RWA product called ship financing in collaboration with Pelayaran Korindo and InvestaX. Galactica aims to expand its digital asset investment portfolio for various types of ships in more countries. This will contribute to the digitalization of traditional shipping finance, attracting global capital, and expanding Kaia’s RWA ecosystem.”
- Galactica CEO Kim Yung-young

“For the launch of Galactica services, the foundation has been working closely with Pelayaran Korindo and InvestaX since last year. Galactica, Kaia’s flagship RWA token project, will serve as a solid example of RWA asset tokenization while also enhancing collaboration systems with various RWA partners to enrich the Kaia RWA ecosystem.”
- Chairman Sangmin Seo of Kaia DLT Foundation

About Galactica

Galactica is a joint venture between Kaia Foundation and Pelayaran Korindo, conducting a ship financing RWA tokenization project based in Indonesia, where domestic maritime transport demand is surging. The company plans to improve the rigid ship purchasing process and enable investors to gain more shipping operation profits through the continuous introduction of ship RWA token products. Galactica aims to digitalize the traditional shipping industry and attract global capital, with the goal of modernizing Indonesia’s shipping industry and strengthening competitiveness in the global shipping market. Galactica complies with Singapore regulations and lists and sells assets through the InvestaX platform, which holds a license in the region.

About PT. Pelayaran Korindo

PT. PELAYARAN KORINDO has grown through the transportation of timber, plywood, and crude palm oil, and currently operates as a shipping company contracting with companies across all industrial sectors such as steel, refinery, chemical, and fertilizer, and transporting throughout Indonesia.