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Australian Security Exchange (ASX) will be offering tokenization to the listed companies. Addition of this whole new feature on ASX came in the wake of Zerocap’s efforts. Now the companies listed on exchange would be able to trade and operate using different tokenized assets including bonds, equities, funds, carbon credits and several others.
On Monday, August 15th 2022, Zerocap proclaimed their success in the trial program to bridge their custody infrastructure across the platform using Synfini. After the deployment, the system was expected to offer from trading to clearing of tokenized assets based on Ethereum network.
Melbourne based crypto investment firm Zerocap’s proof-of-concept trial falls under the Synfini project. The project launched in November is a settlement project of the ASX based on distributed ledger technology (DLT). Synfinin serves the clients the services like DLT infrastructure of ASX, services related to ledger and data hosting and also allows the users to create blockchain based applications.
Co-founder and CEO at Zerocap – Ryan McCall – said that the product launched last year and received a lot of attention across the institutional space. Especially the companies seeking the opportunities to tokenize and trade their offerings of bonds, funds and carbon credits, etc. took interest in the project.
McCall said that there are huge possibilities to offer tokenization of lots of non-traditional yet illiquid assets, other than prominent crypto assets like bitcoin, ethereum and others. He also cited the strong value proposition offered by tokenizing of any asset and their linkage to the ASX ecosystem.
Given the fact that Synfini offers tokenization of assets, it could also potentially offer the crypto trading services to the clients. Although McCall agrees with this assumption he did not show any significant proof towards this. This clarifies the ASX priorities and sole focus towards tokenizing of traditional assets only, at least for now.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
