After a successful proof-of-concept pilot project, the Australian Securities Exchange (ASX) will allow its member companies to trade carbon credits, stocks, tokenized bonds, and funds. Each trial will be overseen by Zerocap, a digital asset investment platform.
The Australian Securities Exchange (ASX) Has Entered the Tokenized Asset Trading Market.
Zerocap (the Melbourne-based venue) announced on Monday that it had successfully used Synfini for bridging over the custody infrastructure on the venue as part of the trial project. Consequently, tokenized Ethereum-based assets will be able to undergo clearing and be traded. The trial is part of ASX’s Synfini distributed ledger technology (DLT) settlement project, which enables the development of blockchain applications.
Zerocap CEO and co-founder Ryan McCall said that the company saw a lot of interest from businesses in the previous year. Platforms that are exploring methods associated with trade bonds, carbon credits, or the tokenization of funds stood out in this regard. Tokenization of private equity, carbon credits, equities, property, bonds, and as well as fundamentally illiquid things, he said, has a resilient value plan because it goes beyond Ethereum, Bitcoin, and the rest of the assets in cryptocurrency.
Tokenization of any asset and integration into the ASX ecosystem is possible, according to the respective value plan, as he put it. McCall detailed how businesses involved in murky and inaccessible markets like bonds and carbon credits are working on ways to effectively reduce costs and issuance time while making investments more accessible to a wider audience through tokenized offerings.
The CEO of Zerocap has hinted that the company may begin offering trading of tokenized assets on its own.
When asked if it would be simple for ASX to use Synfini to provide crypto trading, McCall replied positively, but he went on to explain that he had seen no interest indicators in the sector because ASX and the rest of them are fundamentally dedicated toward the tokenization of conventional assets.
McCall continued by speculating that Zerocap might soon pursue, via Synfini, an official launch of services related to trading and the tokenization of the assets for the institutions. According to him, all of the necessary steps for the platform to obtain legal authorization have been taken.