^{( NOVEMBER 24 2023 )}

This is what is coming for the financial markets.

Souce

Likewise, JP Morgan and CityBank come out to declare that putting “Wall Street on a blockchain” we are talking about $5 trillion in assets could be tokenized with blockchain technology in the next 5 years according to a report by Bernstein.

Another sign that tells you what is coming is that the Society Generale bank issued 10 million euros in tokenized green bonds on the Ethereum network. This demonstrates a growing interest in the tokenization of assets within traditional finance, HSBC believes that by the year By 2030, 5 to 10% of assets will be tokenized.

Souce

Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email [email protected] to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at

Supporters of tokenisation, such as BlackRock’s Larry Fink, say it could make it easier and cheaper for investors to buy and sell funds or even fractions of funds. It could also speed up cumbersome back-office reconciliation and settlement times. Last year the IA called on the government and regulators to work “at pace” to approve blockchain-traded funds in the UK.