Following a successful proof-of-concept experiment sponsored by the digital asset investment platform Zerocap, companies listed on the Australian Securities Exchange (ASX) may soon be able to trade tokenized bonds, equities, funds, or carbon credits, as reported by Cointelegraph.
As part of a trial programme, Melbourne-based digital asset investment platform Zerocap informed Cointelegraph on Monday that it had utilised Synfini to successfully bridge over its custody infrastructure onto the platform, enabling the trading and clearing of Ethereum-based tokenized assets, Cointelegraph noted.
The pilot is a component of Synfini, an ASX settlement project based on distributed ledger technology (DLT) that was introduced in November. The platform gives users access to the ledger, data hosting, and distributed ledger technology (DLT) infrastructure of ASX, allowing them to build blockchain applications on top of it.
It happened last year, according to Ryan McCall, co-founder, and CEO of Zerocap, and “it garnered a lot of interest” in the institutional space, notably from businesses looking into ways to tokenise and trade bonds, funds, or carbon credits. “Thinking beyond Bitcoin, Ethereum, and other crypto assets, the tokenisation of bonds, equities, property, carbon credits, private equity, and anything that’s essentially illiquid, there’s a strong value proposition here that we can essentially tokenize any asset and bridge that into the ASX ecosystem,” McCall added.
According to McCall, businesses dealing with particularly “opaque and difficult to access markets” like bonds and carbon credits are looking for effective ways to reduce costs, shorten the issuing process, and broaden investor access via tokenized offerings.
However, it should be noted that Synfini is a different project from ASX’s blockchain-based CHESS system replacement, which has not yet been put into use due to years of technical difficulties.
McCall went on to say that since Zerocap has recently completed the requirements for legal approval, it may soon be planning to officially introduce asset tokenization and trading services via Synfini to institutions, as noted by Cointelegraph.
(With insights from Cointelegraph)
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