Australian Securities and Investments Commission (ASIC) chairperson Joe Longo has said that unless Australia embraces new technologies, including tokenization, its capital markets could be left behind by other countries.
"As other countries adapt and innovate, there is a real risk that Australia will become a'land of missed opportunities', or simply a passive recipient of developments overseas," Longo told the National Press Club on Wednesday.
The Boston Consulting Group (BCG) estimates that more than $35.80 billion worth of real-world assets are currently tokenized on-chain, which is expected to increase to $16 trillion by 2030; McKinsey & Co forecasts a more conservative figure of $2 trillion.
US market regulators have also floated the concept of 24/7 trading, which "may be more viable in some asset classes," with leading financial leaders such as BlackRock CEO Larry Fink pushing for the tokenization of everything from stocks and bonds to money market funds as a solution.
Australian ASIC Chairperson: If it does not embrace new technologies such as tokenization, its capital markets may be surpassed by other countries
2025-11-07 01:20:23
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