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Friday Nov 7 2025 01:10
2 min
Joe Longo, Chairman of the Australian Securities and Investments Commission (ASIC), warns that Australia's capital markets risk falling behind other countries unless they embrace new technologies like tokenization. He emphasizes that innovation is key to avoiding stagnation.
Key Takeaways:
Longo points out that other countries are adopting innovation at a faster pace than Australia. Over $35.8 billion worth of real-world assets are currently tokenized on-chain, and Boston Consulting Group estimates that this figure could rise to $16 trillion by 2030. McKinsey & Co predicts a more conservative $2 trillion over the same timeframe.
ASIC is taking steps to support innovation by relaunching its Innovation Hub to help fintech startups navigate regulations. The regulator also released updated guidance on how digital asset innovation should be balanced with investor protection.
Longo expects tokenization to accelerate faster than anticipated, citing discussions with JPMorgan staff who said they plan to tokenize their money market funds within the next two years. Four of JPMorgan's largest money market funds hold a combined $730 billion worth of assets.
Tokenizing these asset classes will also enable a broader range of traders to access markets that have traditionally been limited to institutional investors and high-net-worth individuals, Longo notes.
In short, Longo believes Australia faces a crucial choice: embrace innovation and capitalize on the opportunities offered by tokenization, or fall behind and become a passive recipient of developments overseas. The future of Australian capital markets hangs in the balance.
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