Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

ASIC Chairman: Australia risks "missing out" by avoiding asset encryption

robot
Abstract generation in progress

The Chairman of the Australian Securities and Investments Commission (ASIC) Joe Longo warned that the country's capital market could fall behind if it does not quickly embrace new technologies such as asset encryption (tokenization). He emphasized: “Innovate or die.”

Currently, there are over 35.8 billion USD in real assets being encrypted, and it could reach 16 trillion USD by 2030. While the US and other countries are pushing for 24/7 trading and comprehensive encryption, Longo stated that Australia is being surpassed despite having once led with the CHESS system and issuing the first encrypted bonds in 2018.

ASIC will restart the Innovation Hub to support fintech startups in innovation. Longo revealed that JPMorgan plans to encrypt 730 billion USD in assets before 2028, expanding investment opportunities for many retail traders and changing the way the global financial market operates.

Australia risks "missing the opportunity" by avoiding cryptocurrency encryption

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)