✨ Imperium Markets Advocates for Swift Tokenization in Australia
posted 8 Mar 2024
Fintech company Imperium Markets has called on the Australian government to accelerate the tokenization of debt instruments to stay competitive in today’s market. The company has long been working with the government on a pilot project employing distributed ledger technology for tokenization.
If we don’t move with the rest of the world and we stay behind and that other markets become digital, we’ll wither and die on the vine,declared Stu Burns, chief executive officer at Imperium Markets.
The launch of this project is scheduled for June 2024, initially featuring only Australian banks’ certificates of deposit. The government, however, aims to expand this to include all national assets eventually. Tokenization is anticipated to make the purchasing process quicker and reduce transaction fees.
As a testament to the success of similar endeavors, one can look to Hong Kong’s initiative, which enabled the government to raise $100 million through the sale of digital green bonds. To learn more about the tokenization of tangible assets, including gold, real estate, and carbon credits, check out our article.
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