Australian stock exchange may consider listing tokenized real-world assets
ASX CIO Dan Chesterman continues to be bullish over blockchain technology, particularly tokenized real-world assets, such as gold and other commodities....
- The Australian Securities Exchange (ASX) is unlikely to directly list a cryptocurrency on its exchange but could consider listing tokenized real-world assets.
- ASX's CIO and group executive of technology and data, Dan Chesterman, mentioned that listing a cryptocurrency faces challenges due to listing rules.
- ASX is the 16th largest stock exchange globally and accounts for 82% of the total dollar turnover in local equity market products.
- Major banking executives, including Howard Silby from National Australia Bank (NAB) and Sophie Gilder from Commonwealth Bank, see blockchain as an efficiency driver and believe in the potential of tokenization of assets and smart payments.
- ASX faced criticism for suspending the blockchain-based upgrade of its clearing and settlements system, but Chesterman clarified it was not a rejection of blockchain technology.
- ASX continues to work with Digital Assets for its blockchain development platform Synfini.
The sentiment of the article is generally neutral, discussing the challenges and potential benefits of listing cryptocurrencies and tokenized assets on the ASX. There is also a mention of criticism faced by ASX for suspending its blockchain-based upgrade.