- Cointelegraph reports that Australian Zerocap has begun experimenting with tokenized asset trading.
- The experiment is part of ASX’s November DLT-based settlement initiative Synfini.
- The company believes tokenizing assets with blockchain technology would allow for frictionless transactions.
Cointelegraph reported on Monday that Melbourne-based digital asset investment platform Zerocap successfully deployed Synfini to bridge over its custody infrastructure onto the platform as part of a pilot program, enabling the trading and clearing of Ethereum-based tokenized assets.
According to the report, the experiment is being conducted as a part of the distributed ledger technology (DLT)-based settlement project Synfini, which was initiated by the Australian Securities Exchange (ASX) in November.
The platform provides users with access to the distributed ledger technology (DLT) infrastructure, data hosting, and ledger services provided by ASX. This gives users the ability to create blockchain apps on the platform.
Having ASX as a trusted venue for trading digital assets will certainly ease institutional worries about the crypto industry’s exposure to counterparty risks.
Ryan McCall, Zerocap co-founder and CEO, stated:
Thinking beyond Bitcoin, Ethereum and other crypto assets, the tokenization of bonds, equities, property, carbon credits, private equity, and anything that’s essentially illiquid, there’s a strong value proposition here that we can essentially tokenize any asset and bridge that into the ASX ecosystem.
The company believes that the tokenization of assets, in conjunction with blockchain technology, will make it possible to conduct transactions with minimal friction, as well as rapid, irrefutable settlement and safe custody of assets. This demonstrates that digital transactions and the efficient markets they create may play a significant part in the essential development of instruments and assets for the reduction of carbon emissions.
Ryan McCall had said before that “Zerocap’s mission is to bridge the worlds of traditional markets and digital assets.”