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Business Reporter: Accelerating the adoption of tokenisation in the financial sector

Business Reporter: Accelerating the adoption of tokenisation in the financial sector

How a digital assets infrastructure partner can help with pilots and scaling

LONDON, UNITED KINGDOM, September 29, 2023 /EINPresswire.com/ — In an article published on Business Reporter, John Hallahan, Director of Business Solutions, EMEA, Fireblocks talks about how infrastructure partners supporting pilots and scaling across use cases can speed up the widespread adoption of tokenisation. Tokenisation in finance is the transfer of real-world assets, such as securities, real estate or carbon credits onto the blockchain – a distributed database or ledger shared among a computer network’s nodes. Tokenisation has a number of proven benefits – it can lead to improved efficiencies in back and middle office operations, the broadening of the types of assets available, as well as the reduction in minimum investment thresholds. Yet adoption is slow.

What’s still missing to speed up the adoption of tokenisation is regulatory clarity, although the UK and the EU have made great strides recently in this respect with the Financial Services and Markets Act and MiCA (Markets in Crypto Assets Regulation), respectively. Uptake, however, has picked up in the past eighteen months. National Australia Bank issuing its own stablecoin and completing the world’s first cross-border stablecoin transfer by a major financial institution, New York Mellon launching its crypto custody platform, and ABN Amro issuing a tokenised green bond are three notable examples. But the use of new technology requires new skills and the introduction of new processes, which may overwhelm financial institutions that want to go it alone. With the right infrastructure partner, however, building a tokenisation roadmap to bring digital asset strategies into production and identifying real-world use cases becomes easier. A partner can support the running of pilots and demonstrate the quick wins of tokenisation compellingly, as well as scale pilots across use cases and help build a business’s own tokenisation ecosystem.

To learn more about the benefits of blockchain and tokenisation, read the article.

About Business Reporter

Business Reporter is an award-winning company producing supplements published in The Guardian and City AM, as well as content published on Business Reporter online hubs on Bloomberg.com, Independent.com, Business Insider Germany and Le Figaro, delivering news and analysis on issues affecting the international business community. It also hosts conferences, debates, breakfast meetings and exclusive summits.

www.business-reporter.co.uk

About Fireblocks

Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves thousands of financial institutions, has secured the transfer of over $4 trillion in digital assets and has a unique insurance policy that covers assets in storage & transit. Some of the biggest trading desks have switched to Fireblocks because it’s the only solution that CISOs and Ops Teams both love.

For more information, please visit www.fireblocks.com.

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Originally published at https://www.einpresswire.com/article/658108681/business-reporter-accelerating-the-adoption-of-tokenisation-in-the-financial-sector

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