- As an option, they are considering tokens pegged to gold
- The main condition is that the assets have reliable security
Australian Stock Exchange (ASX) will consider a question about listing tokens that represent real assets. For example, it can be tokenized bonds, gold and other instruments. Such plans were voiced by ASX CIO Dan Chesterman. But he added that the token must be “appropriately secured.”
According to Yahoo Finance’s March report, the Australian Securities Exchange ranks 16th in the world by market capitalization. And ASX covers almost 82% of all stock trading volumes in the country.
ASX emphasizes that they do not plan to add classic cryptocurrencies to their platform, at least in the short term. They have strict listing rules that prevent this.
However, large banks and financial institutions are actively experimenting with blockchain. They issue traditional securities in tokenized form. For example, Finblox offered tokenized US Treasuries in June. And the Bank of China issued $28 million worth of tokenized bonds on the Ethereum network.
Blockchain-based securities have several advantages over traditional formats. For example, they are easier to track and transfer ownership. And expensive assets can be split into smaller parts to attract clients with limited incomes to investments.