Joe Longo urges stronger national focus on asset tokenization as global adoption accelerates, citing JPMorgan's $730B money market tokenization plan and BCG's $16 trillion forecast by 2030.
ASIC (Australian Securities and Investments Commission) Chair Joe Longo warned that Australia could be overtaken if it does not advance asset tokenization initiatives. He referenced Boston Consulting Group’s projection of a $16 trillion global tokenization market by 2030 and JPMorgan’s target to tokenise $730 billion in money market funds within two years. Longo’s remarks highlight the urgency for Australia to strengthen its competitive position in the rapidly expanding sector.