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Australian Securities Exchange Considers Tokenized Assets Based on Blockchain

In a blockchain tokenization trial, the Australian Securities Exchange (ASX) collaborated with the private wealth management company, Zerocap, according to sources. The purpose of the testing was to determine Synfini’s capacity to support tokenized assets while Zerocap acts as the custodian.

Synfini is ASX’s distributed ledger technology (DLX) as a service, which went live in November 2021 and offers the platform connectivity services, software, and infrastructure that clients may require to develop a DLT application.

This trial was held to demonstrate that ASX is capable of offering a tokenization platform for both digital assets and securities. However, cryptocurrency is not the main topic when discussing digital assets.

The focus, according to Ryan McCall, CEO of Zerocap, is not on bitcoin (BTC), but rather on anything that requires liquidity to settle and has a days-long transaction cycle. We’re talking about tokenizing anything, including bonds, real estate, and carbon credits, he explains.

Synfini Propose And Idea

Synfini is a service that enables businesses to roll out their own blockchain systems. It provides the technology that powers VMware Blockchain, its Clearing House Electronic Subregister System (CHESS), and the DAML smart contract language.

In order to create a trading, clearing, and settlement app, Synfini integrated Zerocap’s custody business, which was recently involved in the pilot of ANZ’s stablecoin. Investors were shown this in order to showcase the potential of the platform.

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