- As an option, they are considering gold-linked tokens
- The main condition is that the assets have strong collateral
The Australian Stock Exchange (ASX) will consider listing tokens that represent real assets. For example, it could be tokenized bonds, gold and other instruments. Such plans were announced by Dan Chesterman, ASX director of information technology. But he added that the token must be “properly secured.”
According to a March report by Yahoo Finance, the Australian Stock Exchange ranks 16th in the world by market capitalization. And ASX covers nearly 82% of all stock trading volume in the country.
The ASX stresses that it has no plans to add classic cryptocurrencies to its platform, at least in the short term. They have strict listing rules that prevent this from happening.
But major banks and financial institutions are actively experimenting with blockchain. They issue traditional papers in tokenized form. For example, in June, Finblox offered tokenized U.S. Treasury bonds. And Bank of China issued $28 million in tokenized bonds on Ethereum.
Blockchain-based securities have several advantages over traditional formats. For example, they are easier to track and transfer ownership. And expensive assets can be broken down into smaller pieces to attract limited-income customers to invest.