đŠđșđĄ Australia Warned: Donât Miss the Tokenisation Wave! đđ°
Australiaâs top financial watchdog, ASIC Chair Joe Longo, has cautioned that the nation risks becoming the âland of missed opportunityâ if it fails to embrace tokenisation â the process of turning real-world assets into digital tokens. đȘđŠ
Longo highlighted that while over $35 billion worth of real assets are already tokenised globally, that figure could skyrocket to $2â16 trillion by 2030 đđ. He stressed that Australia, once a tech leader in financial systems, is now falling behind as other nations move faster in adopting blockchain-powered markets. âłâïž
To close the gap, ASIC plans to revamp its Innovation Hub to support fintechs and startups exploring tokenised markets. đ»đ± Longo pointed to giants like JPMorgan already tokenising funds â proof that the shift is underway. đŠđ