The Australian Securities Exchange (ASX) has made headlines with statements from its Chief Technology Officer, Dan Chesterman. Chesterman expressed that "appropriately supported" tokenized real-world assets could be listed on ASX in the future. This statement indicates that ASX is considering the concept of tokenization at a time when the listing of cryptocurrencies on exchanges is facing obstacles. #ASX

Barriers to Tokenization:

Chesterman acknowledged the difficulties encountered in the past with directly listing cryptocurrencies, as they often failed to meet many listing criteria. Therefore, ASX appears to be adopting a different approach to overcome the existing barriers to listing cryptocurrencies directly. Tokenization could be an approach that aims to overcome these barriers by providing digital representations of real-world assets.

ASX's Approach to Tokenization:

ASX holds a significant position in terms of market capitalization as the 16th largest exchange in the world. Chesterman's expressed "full support" for the idea of listing tokenized real-world assets demonstrates ASX's willingness to take steps in this area. By considering tokenization of not only cryptocurrencies but also real-world assets, the company aims to merge the traditional financial system with blockchain technology. #token

Blockchain and Major Banks:

ASX's approach aligns with the statements made by major banks regarding blockchain technology. Blockchain has the potential to enhance the security and efficiency of financial transactions. Howard Silby, Chief Innovation Officer at National Australia Bank, emphasizes that blockchain technology still holds innovative potential for large banks and institutions. Sophie Gilder, Blockchain and Digital Assets Lead at Commonwealth Bank, believes that tokenizing assets can lead to increased efficiency gains. #Blockchains

ASX and Blockchain Development:

ASX has faced criticism in the past year due to delays in a blockchain-based upgrade project. However, Chesterman emphasized that this situation does not mean rejecting blockchain technology. ASX continues to work with infrastructure company Digital Assets for its blockchain development platform, Synfini, and strives to progress in the field of tokenization.

IN SUMMARY:

ASX is considering listing appropriately supported tokenized real-world assets in the future. This approach emerges as an alternative to overcome the barriers to directly listing cryptocurrencies. ASX's ongoing efforts in blockchain and tokenization demonstrate the increasing adoption of digital assets and blockchain technology in the financial system.