As public crypto melts down, investment banks are quietly pushing for standards to apply its technology to trading real assets, testing regulators.
Cryptocurrencies have not just entered another winter but a “polar vortex”, says a senior executive at State Street, the world’s largest custodian bank.
State Street vice president Irfan Ahmad: “There is going to be an evolution of the players and the protocols in the market.”last week, it may seem counterintuitive for blockchain to remain in focus for State Street and many investment banks and exchanges. , will lead to institutional interest in “asset tokenisation” gathering pace as global standards develop, which global investment banks are lobbying for.
“We think regulatory harmony could create an environment where we see an explosion of tokenised instruments into the market,” he said. Australia’s Treasury will soon start a process of “token mapping” to determine local definitions and treatments. The
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