The Australian Securities Exchange (ASX) and Tokenized Assets

The Australian Securities Exchange (ASX) is considering listing tokenized real-world assets such as gold. ASX Chief Information Officer Dan Chesterman spoke to Cointelegraph, saying that while there are challenges associated with listing a cryptocurrency directly, the company could consider a tokenized asset. The ASX is the 16th largest stock exchange in the world by market capitalization.

Summary:

• The Australian Securities Exchange (ASX) is considering listing tokenized real-world assets such as gold.
• ASX Chief Information Officer Dan Chesterman spoke to Cointelegraph, saying that while there are challenges associated with listing a cryptocurrency directly, the company could consider a tokenized asset.
• The ASX is the 16th largest stock exchange in the world by market capitalization.

“Appropriately Backed” Real World Assets Could be Listed

Australian stock exchange may consider listing tokenized real-world assets such as gold. According to Dan Chesterman, chief information officer at ASX and group executive of technology and data, the “appropriately backed” tokenized asset could be listed on its platform. Though there have been past challenges with directly listing cryptocurrencies due to their failure to meet certain listing rules, Chesterman believes a tokenized product can still be listed in the future.

Major Banking Executives’ Comments on Blockchain

Howard Silby, chief innovation officer at National Australia Bank (NAB), noted that experimentation with blockchain will not cease in large banks and institutions. He believes high friction customer processes remain ripe areas of innovation for blockchain implementation. Meanwhile, Sophie Gilder from Commonwealth Bank’s managing director of blockchain and digital assets suggested that smart payments and tokenization of assets could reduce risks and costs while driving efficiency for businesses.

Yahoo Finance Data on The ASX’s Market Capitalization

< p >Yahoo Finance reported that as of March 28 this year, the ASX was ranked 16th amongst global stock exchanges by market capitalization. In addition, data from Australia’s Securities & Investment Commission revealed that during Q1 2023 alone, it accounted for 82% of local equity market products’ total dollar turnover .

< h2 >Potential Impact of Listing Tokenized Real-World Assets

< p >If successful, this move by ASX could open up new possibilities for investors who may have previously shied away from investing in cryptocurrencies due to their volatility or lack of trust in them. By allowing them access via an alternative avenue like real-world assets would bring much needed assurance and confidence into this space.