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ASX may consider listing tokenized real-world assets

Dan Chesterman, chief information officer of the Australian Securities Exchange, said tokenized assets would need “proper support” but could “absolutely” be listed in the future.

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Australian stock exchange may consider listing tokenized real-world assets

Australian Securities Exchange (ASX) is unlikely to list cryptocurrencies directly on its exchange, but could consider “appropriately supported” tokens real-world assets such as gold.

ASX Chief Information Officer and Technology and Data Group Executive Dan Chesterman told Cointelegraph that while there are hurdles to listing cryptocurrencies directly, the firm could consider listing tokens optimized real-world assets.

“In the past, we had some challenges getting to the stage where we could directly list cryptocurrencies, mainly because it didn’t comply with many of the listing rules,” Chesterman said.

“Can I imagine we might eventually list tokenized products on our website? Absolutely. “

According to one stock exchange, the Australian Securities Exchange is the 16th largest market capitalization in the world. Big stock exchange Yahoo Finance report on March 28. According to the Australian Securities and Investments Commission, as of the first quarter of 2023, the ASX accounted for nearly 82% of the total dollar turnover of local equity market products.

Dan Chesterman speaking at the opening of Australia Blockchain Week. Source: Cointelegraph

“In the current market, it is difficult to talk about the advantages of digital assets. Instead, I think it’s more about efficiency, and there’s a lot to be gained there,” Gilder said.

“So we’ve moved away from irrational exuberance, which isn’t really good for the market, and now focus on what’s additional utility, other than possibly attracting capital. “

Last year, the ASX decided to suspend its nearly 30-year-old clearing and settlement system Criticized for a blockchain-based upgrade to the system that has cost as much as US$166 million (A$255 million).


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Chesterman however To reiterate, the decision is not a “rejection” of blockchain technology.

“Our decision to suspend is based on our assessment that we have seen some delays occur and reoccur, and we do not want to Going through a process of prolonged and ongoing delays that will impact our customers,” he said.

” We made a very deliberate decision [. ..] to pause, so as not to create a persistent indeterminate state. “ Chesterman said the exchange continues to work with infrastructure company Digital Assets on its blockchain Development platform Synfini.

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