Institutional Tokenization 3.0: Break Silos
October 2024 Institutional Tokenization 3.0: Break Silos Since Tokeny started building tokenization solutions in 2017, we have seen financial institutions exploring tokenization of assets in…
The APAC Tokenization Region is Heating Up
Compared to many other regions around the world, the APAC region has consistently been one of the leaders at the forefront of technological advancement. This is a familiar concept to us as most of Tokeny’s initial clients were domiciled here.
With boots on the ground once again, we were pleasantly surprised by some of the discussions we were having in the past few weeks.
While many crypto-centric events over the years have often sidestepped tokenization topics, our recent engagements at Korea Blockchain Week, Token2049, and Digital Assets Week in Singapore suggested a positive shift. The momentum seems to be swinging back in our favor, evidenced by our substantive conversations with leading financial institutions and banks.
We particularly observed a consistent sentiment among the region’s leading financial players, one that resonated with our longstanding vision:
To develop a standardized, shared, and open-source protocol tailored for permissioned use-cases, with an emphasis on tokenized securities.
Many are realizing that for true sustainable liquidity and to harness the full potential of blockchain, relying solely on private blockchains and siloed ecosystems isn’t the optimal approach.
Although these private systems offer a foundational understanding of tokenization, their inherent limitations could counteract the advancements made.
One driving factor behind institutions’ preference for private blockchains is the apprehension about compliance enforcement on public blockchains. In response, Tokeny initially developed the open-source ERC3643 to address this. When integrated with ONCHAINID, it ensures on-chain compliance enforcement.
It’s clear to us that the global capital markets are on a steadfast journey towards comprehensive on-chain operations in a compliant environment, bringing the vision of tokenization closer to fruition.
A special acknowledgment goes to our new partners, the Klaytn Foundation in South Korea, for their immense support and hospitality. We eagerly await the opportunity to return the gesture when you join us in Luxembourg.
During our time in Asia, we had the honor and pleasure to speak on panels and participate in collaborative conversations with other tokenization leaders.
Here is a recap of some of our photos in South Korea:
