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

2025-11-07 02:00:23

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.

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.