Revolution in foreign exchange trading: tokenate assets start in UK!
Revolution in foreign exchange trading: tokenate assets start in UK!
UK - The financial world is facing an exciting turn: Lloyds Banking Group and Aberdeen investments have carried out the first use of tokenized real assets (RWAS) as collateral for foreign exchange trading in Great Britain. This pilot project could be considered a pioneer for a new era in the financial sector and shows how blockchain technology can revolutionize traditional banking. In this context, the role of the digital asset exchange archax must be emphasized, which is completed by the Hedera Hashgraph Blockchain and regulates the Financial Conduct Authority (FCA), which strengthens the legal framework for such innovations. The British financial landscape already sees over $ 5.4 trillion in the foreign exchange and interest rates every day, which corresponds to almost half of the global activity. It shows that it only makes sense to combine efficiency and cost optimization with modern technologies.
In this pilot project, digital tokens were used in this pilot project, which are covered by UK government bonds and units of Aberdeen's money market funds. This innovative use aims to reduce the costs of trade and to tighten the processes in digital finance. Peter Left, who is responsible for digital financial solutions at Lloyds, emphasizes the enormous possibility of providing digitization and tokenization of assets for the market. A point, which is also underlined by Emily Smart, Chief Product Officer by Aberdeen, is the practical relevance of real-time transmission of collateral on the blockchain. In fact, this could lead to the fact that company risks decrease significantly and the operational cost of permanently decreasing.opportunities and challenges of tokenization
blockchain technology has the potential to change the financial industry profoundly, but the current use of tokenization on a large scale is still limited. According to a study by Roland Berger, tokenization could enable costs of up to 4.6 billion euros in stock trading by 2030 annually. Furthermore, Philippe Blaser von Roland Berger emphasizes how important it is for banks and asset managers to proactively deal with the challenges but also the opportunities of tokenization. The transformation could significantly optimize and revolutionize the entire value creation network.
The advantages of tokenization in securities trading are clearly obvious: increased efficiency, improved transparency and simplified access by fractional assets. But the way there will not be without challenges. Regulatory framework and uniform industrial standards must first be created to ensure scalability and cyber security. This is of fundamental importance to enable the acceptance of tokenization on a larger scale.
conclusion: future of the financial markets
The cooperation between Aberdeen Investments, Lloyds Banking Group and Archax shows how closely the digital transformation of the financial markets is being promoted. The pilot project could prepare the soil for wider use of tokenized assets as collateral for foreign exchange trading and shows the potential to reduce systemic risks and market volatility in the long term. Such steps fit seamlessly into the efforts of Great Britain to take a leading role in the area of digital finances.
With the increasing spread of tokenized assets, the financial sector could experience the decisive change that is necessary to remain competitive in an increasingly digitized world. As Kevin de Patoul from Keyrock aptly notes, the industry is at a turning point that is comparable to the transition from paper to electronic trade. There is definitely something in motion - and the next step will be decisive.Sources: Tradingview , Finance feeds href = "https://www.rolandberger.com/de/media/tickenization-von-verm%C3%B6gensbewert-transbewitale-transformation-des.html" Class = "Source_3"> Roland Berger .
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