Companies listed on the Australian Securities Exchange (ASX) will be able to trade bonds, stocks, funds or carbon credits through the digital asset investment platform Zerocap.
On Monday, Australia-based digital asset investment platform Zerocap announced that it has successfully used Synfini while looking for solutions to integrate its infrastructure into the platform, and that Ethereum (ETH)-based tokenized assets have been successfully exchanged.
This trial is part of Synfini, ASX’s distributed ledger technology (DLT)-based consensus project, launched in November. The platform provides customers with access to data hosting and ledger services through ASX’s DLT infrastructure, enabling them to build blockchain applications.
Zerocap and Synfini Join Forces for Digital Services
Zerocap co-founder and CEO Ryan McCall noted that the Synfini trials took place last year and have received “a lot of attention” in the corporate space, particularly by companies exploring ways to tokenize and exchange bonds, funds or carbon credits.
Ryan McCall said in a statement:
“When we think beyond the tokenization of Bitcoin, Ethereum and other crypto assets, bonds, stocks, properties, carbon loans, private equity and essentially anything else illiquid, there is a strong value here with which we can tokenize essentially any asset and bridge it. This comes across as the ASX ecosystem.”
Companies dealing with “hard-to-understand and hard-to-reach markets,” such as bonds and carbon loans, are looking for ways to efficiently reduce costs, save time on issuance, and open wider investment access through tokenized offerings, McCall said.
When asked if ASX could offer cryptocurrency trading through Synfini, McCall answered “yes” to that question, but added that it has not seen any interest in this area as ASX and others are primarily focused on tokenizing real-world assets.
McCall stated that Zerocap may consider officially launching its asset tokenization and trading services through Synfini in the near future, as it has just completed the necessary steps for regulatory approval.
McCall said in a statement:
“Since then, we have been going through certification processes for change in all kinds of enterprise software. As you can imagine, this is a very rigorous process. We just got our certificate and we’re starting to roll it out to everything”
McCall also stressed that since ASX is a reputable source for hosting digital asset trading, doing so would lessen institutional concerns about counterparty risk related to the crypto sector. He added that it is quite easy to understand this concern due to the events that took place in the past.
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