ASIC chief warns that Australia may lose its competitive edge as global markets adopt tokenization

ASIC Chair Joe Longo highlights the urgent need for Australia to innovate in financial markets or risk falling behind global competitors. With tokenization allowing fractional ownership of assets, the nation must actively engage in discussions or face becoming a “land of missed opportunity.”

An ASIC survey reveals that around 50% of market participants are not involved in tokenization conversations. This disengagement could hinder progress and limit the potential for growth within Australia’s financial sector.