Standard Chartered is very optimistic about asset tokenization! The report reveals 3 major advantages: demand will reach 30 trillion in 10 years.

This research report, co-authored by Standard Chartered Bank and Synpulse, is a comprehensive report on the tokenization of real-world assets in the context of cross-border trade. The report details how tokenization will become a game-changer for global trade by transforming trade assets into transferable instruments, providing investors with unprecedented Liquidity, divisibility, and accessibility.

TradFi assets will experience significant Fluctuation due to the overall economic market impact, which is different from trading assets. Although trading is closely related to the economy, economic recession will affect bank lending. However, the huge trade financing gap still provides good opportunities for investors to enter the market, because even during an economic slowdown, small and medium-sized enterprises still need a large amount of financing, thus creating ongoing investment opportunities. In a sense, trading assets can withstand global economic recession.

At the same time, due to factors such as shorter cycles, lower default rates, and greater financing needs, we believe that this type of trade asset is more suitable for tokenization. In addition, the tokenization of trade assets can also provide many benefits for various participants and process stages in the complex global trade process scenario:

Payment of cross-border trade proceeds

The financing needs between trading parties

Using smart contracts to improve the efficiency, simplicity, transparency, and other aspects of trade.

Standard Chartered Bank expects the overall demand for tokenization of real world assets to reach $30.1 trillion by 2034, with trade assets becoming one of the top three tokenization assets and accounting for 16% of the total tokenization market in the next decade.

Therefore, we have compiled this report to provide a reference for market participants and investors. The article explores the transformative power of tokenization of trade assets, and shares why now is the perfect time to adopt and expand the tokenization of trade assets. At the same time, it also examines four key benefits of embracing tokenization, and proposes actions that investors, banks, governments, and regulatory agencies can take now to seize this opportunity and shape the next chapter of finance.

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Tokenization of real-world assets: Game-changer of global trade rules

Over the past year, we have witnessed the rapid development of tokenization, which reflects a significant shift towards a more accessible, efficient, and inclusive financial system. In particular, the tokenization of trade assets represents a fundamental change in our perception of value and ownership, as well as a fundamental change in investment and exchange mechanisms.

The successful pilot in the Project Guardian led by the Monetary Authority of Singapore at Standard Chartered Bank demonstrated the feasibility of asset tokenization as an innovative 'originate-to-distribute' structure and the potential opportunities it presents for investors to participate in financing real-world economic activities.

Standard Chartered Bank has further promoted this vision in the Project Guardian project, and has created an initial Token issuance platform for real-world assets. They successfully simulated the issuance of $500 million Asset-Backed Securities (ABS) Tokens supported by trade finance assets on the public blockchain Ethereum.

The success of the project demonstrates how open and interoperable networks can be used in practice to promote access to decentralized applications, stimulate innovation, and promote growth within the digital asset ecosystem. This pilot project proves the potential of blockchain technology in the financial industry, especially in improving asset Liquidity, dropping Transaction Cost, enhancing market access and transparency. Through tokenization, trading assets can be accessed and traded more efficiently by global investors, transforming trading assets into transferable instruments, and unlocking previously unimaginable levels of Liquidity, divisibility, and accessibility. It not only provides investors with a new opportunity to balance their investment portfolios through digital tokens with Traceability and Intrinsic Value, but also helps to narrow the $2.5 trillion global trade finance gap.

1. What is asset tokenization?

As the financial world undergoes rapid digitalization, digital assets are at the forefront, completely changing the way we view and exchange assets. TradFi, through the integration with innovative Blockchain technology, will lead a new era of digital finance, fundamentally reshaping our understanding of value and ownership.

Before 2009, the idea of value transfer through digital assets was still unimaginable. The value exchange in the digital industry still relied on intermediaries, acting as gatekeepers, and created inefficient processes. Although there is controversy over the precise definition of digital assets in the financial industry, it is undeniable that they are ubiquitous in our technology-driven lives. From the information-rich digital documents we use daily to the content we consume on social media, they permeate every corner of our modern existence.

The introduction of blockchain technology has changed the rules of the game. It is fundamentally changing the financial market. Unimaginable things are becoming reality, and tokenization has become a key element in expanding the digital asset market, transforming it from niche and experimental to widely accepted and mainstream.

"Tokenization" essentially refers to the process of digitizing traditional assets in the form of Tokens on a distributed ledger through issuance.

Tokenization refers to the process of issuing digital representations of real or traditional assets in the form of a token on a distributed ledger.

These Tokens are essentially digital certificates of ownership that can improve operational efficiency and automation. It is worth noting that it is closely related to the concept of fragmentation, where a single asset can be divided into smaller transferable units. But the most revolutionary aspect is that tokenization enhances access to new asset classes and improves the infrastructure of the financial market, opening the door to innovative applications and new business models in the DeFi space.

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2. The development of tokenization

Tokenization can be traced back to the early 1990s. Real Estate Investment Trusts (REITs) and Exchange-Traded Funds (ETFs) were the earliest examples of decentralized ownership of physical assets, allowing investors to own a portion of tangible assets such as buildings or commodities.

Until 2009, the world witnessed the birth of BTC, which challenged the concept of traditional third-party intermediaries. It sparked a revolution, followed by Ethereum's entry into the scene in 2015. Ethereum is a groundbreaking software platform driven by blockchain technology, introducing Smart Contracts that support tokenization of any asset. It laid the foundation for creating tokens representing various assets, such as Cryptocurrency, Utility Tokens, Security Tokens, and even Non-fungible Tokens (NFTs), demonstrating the potential use of tokenization in representing digital and physical assets.

In the following years, a series of new phenomena emerged: Initial Exchange Offerings (IEO) and the first Tokenissuance (ICO). The United States Securities and Exchange Commission (SEC) created the term "security token issuance (STO)" in 2018, paving the way for regulated tokenization issuance and giving rise to compliant regulatory solutions.

The developments pave the way for the tokenization of real-world assets, which continue to act as a catalyst for the transformation of the Financial Service industry and technological improvements, paving the way for ongoing new applications. The Financial Service industry continues to actively explore the potential of tokenization. Driven by customer demand and the potential opportunities brought by tokenization to banks and the global digital economy, Financial Institutions are increasingly seeking to integrate digital assets into their services.

One of the main examples of such initiatives is the Guardian project, an industry-wide collaboration between the Monetary Authority of Singapore (MAS) and industry leaders to test the feasibility of asset tokenization and DeFi applications. These industry pilots will further reveal the opportunities and risks brought about by the rapid innovation of digital financial tokenization.

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Case A: Project Guardian asset-backed securities (ABS) tokenization project

Standard Chartered Bank has demonstrated a bold vision in the Project Guardian initiative: how to advance the development of a more secure and efficient financial network using blockchain technology. This collaboration between MAS and industry leaders involved market case studies by participating institutions, laying the groundwork for future market infrastructure to harness the innovative potential of blockchain and Decentralized Finance.

Standard Chartered Bank has taken this vision further by creating a Tokenissuance platform for real-world assets, successfully simulating the issuance of a $500 million Asset-Backed Security (ABS) Token on the public blockchain Ethereum. Through this initiative, Standard Chartered Bank has tested the end-to-end peer-to-peer process from creation to distribution, including simulating default scenarios.

Tokenization: The trade finance accounts receivable assets are tokenized in the form of non-fungible tokens (NFT).

Risk-based Allocation: Based on the expected risk and return situation, these Non-fungible Tokens are structurally designed (Senior and Junior Tranche) to ensure strict cash flow allocation.

Token Creation (Fungible Token Creation): Based on the underlying assets of Non-fungible Token and structured design, two types of FTToken are created. The advanced FTToken provides a fixed yield, while the subordinated FT provides excess spread.

Distribution and access: Finally, these Tokens are distributed to investors through ITO.

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Project Guardian successfully demonstrated how to use open and interoperable Block chain networks in practice to facilitate access to decentralized applications, stimulate innovation, and promote the growth of the digital asset ecosystem. The application scenarios can be expanded to tokenization of financial assets such as fixed income, forex, and asset management products, enabling cross-border seamless trading, distribution, and Settlement.

At the same time, by tokenizing the financing needs in the cross-border trade scenario, it introduces this new digital asset class to a wider range of investors and helps improve the Liquidity of the trade financing market.

Three, what else can we see besides tokenization of trade assets?

Tokenization is not only creating a new way of digital asset investment, and bringing much-needed transparency and efficiency to trade financing, but it can also participate more deeply in trade financing, simplifying the complexity of Supply Chain finance.

Credit Transmission: Typically, trade finance is only available to established first-tier suppliers, while the more 'deep' suppliers - small and medium-sized enterprises (SMEs) in the supply chain that are smaller and often lack scale - are often excluded from trade finance. Through tokenization, it is possible to increase the overall flexibility and Liquidity of the supply chain by enabling SMEs to rely on the credit ratings of anchored buyers.

Establishing Liquidity: There is often a lot of hype about how tokenization can unleash tremendous potential, especially in markets with low efficiency and insufficient liquidity. A consensus is forming in the market: due to the drop in transaction costs and enhanced liquidity, investors tend to adopt tokenized assets. For institutional providers, the appeal seems to lie in acquiring new capital, improving liquidity, and streamlining operational efficiency.

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In addition, Standard Chartered Bank believes that the true transformative power of tokenization is much greater. The next three years will be a crucial node for tokenization, and new asset classes will be quickly tokenized. Trade finance assets will take center stage as a new asset class. The industry is reaching a new level of development, where public utilities will achieve higher returns than isolated efforts.

In order to provide channels for obtaining new asset classes, banks play a key role in connecting the existing traditional financial markets with the new, more open, token-supported market infrastructure, while providing trust. Maintaining a trusted status is the foundation for verifying the identities of issuers and investors, conducting KYC/AML checks, and granting certificates to participate in this new, interoperable financial ecosystem.

Standard Chartered envisions the coexistence and eventual integration of traditional and tokenization markets in the future, thus urgently requiring an open and permissioned multi-asset and multi-currency digital asset infrastructure to complement the traditional market. Compared to the past closed-loop market, ownership and utility are shared by a wider range of market participants, striking a balance between inclusivity and security. Such infrastructure can not only promote efficiency and innovation, but also address current industry pain points, such as duplicate investments and isolated, fragmented development, all of which hinder growth and collaboration.

What drives the tokenization of trade assets?

The tokenization has brought unprecedented Liquidity, divisibility, and accessibility to what has been considered a complex asset class over the past decade, serving as a catalyst for adoption in the current macroeconomic and banking environment.

4.1 SMEs: Unlocking Trillion-Dollar Opportunities to Fill the Trade Financing Gap

Standard Chartered Bank expects global trade to grow by 55% over the next decade, reaching $32.6 trillion by 2030. Factors driving this expansion include digitalization, global trade expansion, intensified market competition, and strengthened inventory management. However, there is a significant gap between the demand and supply of trade finance, especially for small and medium-sized enterprises in developing countries.

The trade finance gap has been increasing sharply, rising from $1.7 trillion in 2020 to $2.5 trillion in 2023. This growth represents a 47% increase in demand. It is the largest single-period increase since the introduction of the index, with a variety of factors including COVID-19, economic difficulties, and political instability making it harder for banks to approve trade finance.

In addition, the International Finance Corporation (IFC) estimates that there are 65 million enterprises in developing countries (accounting for 40% of formal micro, small, and medium-sized enterprises (MSMEs)) whose financing needs have not been met. Although the plight of small and medium-sized enterprises and micro, small, and medium-sized enterprises has been widely recognized, a key specific market segment has not yet received attention: the 'missing middle'.

The 'missing middle' or Small and Medium Enterprises (SMEs) are a group that investors find difficult to access. SMEs are particularly active in rapidly developing regions such as the Middle East, Asia, and Africa, occupying the space between large investment-grade companies and small retail and medium-sized enterprises. They represent a large and untapped market, providing significant opportunities for investors.

This investment opportunity can also withstand economic recessions. Since trade is closely related to the economy, economic recessions will have an impact on bank loans. However, the huge trade gap provides investors with a good opportunity to enter the market, as small and medium-sized enterprises still need a large amount of financing even during an economic slowdown, thereby creating continuous investment opportunities.

It is also worth noting that, according to data from the Asian Development Bank, the $2.5 trillion global trade finance gap accounts for 10% of all trade exports. As current trade finance covers 80% of all exports today, the additional 10% may represent additional undisclosed trade finance gaps, as companies either do not seek such financing or cannot access it. This means that the total potential opportunity of undisclosed trade finance gaps could reach $5 trillion.

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4.2 Unexplored Prosperous Market for Investors

Trade finance assets are attractive but underinvested. They generate strong risk-adjusted returns and have some unique characteristics:

Allows risk diversification: Short asset maturity and self-liquidity make them considered as low-risk investments, with relatively low correlation to the stock and bond markets. This makes them a more stable asset class while still providing strong risk-adjusted returns.

A wide range of investment opportunities: There are a variety of trading assets to choose from to meet investors' specific risk preferences. In addition, emerging and frontier markets that are not easily accessible, such as Ghana, Côte d'Ivoire, Bangladesh, or Saudi Arabia, can meet the needs of a wide range of investors.

Low default risk and high recovery rate: Most importantly, trade finance assets have an impressive track record. Compared to public credit, trade finance has a relatively lower default rate and higher recovery rate, fully demonstrating that the risk-adjusted return on trade assets is superior to other debt instruments.

Despite the lack of understanding, inconsistent pricing, lack of transparency, and operational strength of such assets, institutional investors have insufficient investment in such assets, but tokenization can help solve this problem.

4.3 Banks are incentivized to adopt tokenization and unlock capital in frontier markets through a blockchain-based digital issuance and distribution model.

Basel protocol IV is a comprehensive set of measures that will have a significant impact on the way banks calculate risk-weighted assets. Although full adoption is not expected until 2025, banks will need to develop growth strategies under Basel protocol IV through modernized distribution business models.

Through blockchain-based issuance and distribution, banks can derecognize assets from the balance sheet, reduce regulatory capital to cover risks, and help promote efficient asset issuance. Banks can leverage tokenization by distributing trade finance instruments to the capital markets and emerging digital asset markets. This 'digital issuance and distribution' strategy for their trade finance assets can increase banks' return on equity, expand sources of funding, and increase net Interest income.

The global trade finance market is huge and already has the conditions for tokenization. Most of the trade finance assets between banks can be tokenized and converted into digital tokens, allowing global investors seeking returns to participate.

4.4 Realistic needs promote growth

According to the report of EY Parthenon, the demand for tokenization investment will soar. By 2024, 69% of buyer companies plan to invest in tokenized assets, higher than 10% in 2023. In addition, by 2024, investors plan to allocate 6% of their investment portfolios to tokenized assets, and this proportion will rise to 9% by 2027. Tokenization is not a fleeting trend; it is a fundamental shift in investor preference.

However, the supply side of the market is still in its infancy, and by early 2024, the total value of tokenization of real-world assets (excluding stablecoins) is estimated to be around $5 billion, mainly involving commodities, private credit, and US Treasury bonds. In comparison, Synpulse estimates that the total addressable market, including the trade finance gap, will reach $14 trillion.

According to current market trends, Standard Chartered Bank expects that by 2034, the demand for tokenization of overall real-world assets will reach $30.1 trillion, with trade finance assets being among the top three tokenization assets, accounting for 16% of the total tokenization market in the next decade. Due to the potential for demand to exceed supply in the coming years, there is a possibility to help address the current $2.5 trillion trade finance gap.

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Five, Embracing the Four Benefits of Tokenization

Asset tokenization has the potential to change the financial landscape, providing increased Liquidity, transparency, and accessibility. While it holds promise for all market participants, realizing its full potential requires the collective efforts of all stakeholders.

Trade finance has stimulated the global economy, but traditionally, such assets have mainly been sold to banks. Tokenization has opened the door to a broader investor base and ushered in a new era of growth and efficiency.

5.1 Improving Market Access

Today, institutional investors are eager to enter new and rapidly growing markets. Emerging markets can be an attractive choice for diversified investments. However, investors are unable to fully leverage the opportunities provided by emerging markets due to a lack of necessary local expertise and effective distribution networks.

This is exactly the advantage of tokenization. By distributing trade financing assets through digital tokens, banks can increase net interest income and optimize capital structure, while investors, companies, and communities relying on trade financing can benefit from increased accessibility. A careful study of the early collaboration between Standard Chartered Bank and the Monetary Authority of Singapore on Project Guardian highlights the transformative power of tokenization. The pilot demonstrates how an open and interoperable digital asset network unlocks market access and allows investors from different ecosystems to participate in this tokenized economy, paving the way for more inclusive growth.

5.2 Simplifying Trade Complexity

Due to the involvement of global capital and the cross-border nature of commodity trade, trade finance is often seen as a more complex scenario. This asset class has a lower standardization degree, with varying ticket sizes, timeframes, and underlying commodities, making it difficult for large-scale investment.

Tokenization provides a platform that can solve this complexity.

Tokenization is not just a new way to access investment, it is also a driver of Depth financing. Typically, trade financing is only available to mature first-tier suppliers, while "deep" suppliers are often excluded from trade financing. As a solution, token-supported deep supply chain financing can eliminate complexity.

In addition to bringing much-needed transparency and efficiency to trade finance, tokenization can also enhance the overall flexibility and liquidity of the supply chain by enabling small and medium-sized enterprises to rely on the credit ratings of market maker buyers.

Case B: Project Dynamo: Solving Trade Complexity with Digital Trade Tokens

Project Dynamo is a collaborative project between Standard Chartered Bank, the Bank for International Settlements Hong Kong Innovation Centre, the Hong Kong Monetary Authority, and technology companies. It is a typical example of using digital trade tokens to solve trade complexity.

This collaborative effort has resulted in the development of a prototype platform, where primary buyers use Tokens to programmatically pay their entire on-chain suppliers. Smart Contract technology is used to automatically execute and redeem these Tokens based on specific events such as triggering eBL or ESG conditions, thereby achieving efficient and transparent trading processes. Primary buyers can also make conditional payments to their smaller suppliers using Tokens, and the Tokens will only be converted to cash when preset conditions are met, such as delivery proof or electronic bills of lading.

Tokenholder also has various ways to handle Tokens. They can hold Tokens, sell Tokens to obtain financing, or use them as loan Collateral. Tokenization of ownership transfer allows deeper suppliers to have greater flexibility in managing funds efficiency.

Its benefits are not limited to individual participants. Digital transaction tokens are issued in the form of stablecoins and supported by dedicated bank funds or bank guarantees. Coupled with the programmability and transferability provided by blockchain infrastructure, institutional investors have increased confidence in investing in small and medium-sized enterprises and supply chain financing (previously considered high-risk industries).

Project Dynamo is just a start. It lays out a blueprint to solve the difficulties faced by suppliers (especially small and medium-sized enterprises) in obtaining deep supplier financing by providing a more adaptive and effective financing and payment method. Ultimately, it creates a new financing channel for those who were previously unable to access traditional financing options.

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Case C: Optimizing trade processes/financing with CBDC's programmable writing

While tokenization brings exciting possibilities to solve the complexity of the trade ecosystem, the programmability of Central Bank digital currencies (CBDCs) brings another game-changing factor. These digital versions of legal tender issued by the Central Bank can leverage the automatic execution capability of Smart Contracts to achieve programmable transactions, further simplifying the process of trade and Supply Chain financing.

Imagine a scenario: a large company with good credit history (Market Maker buyer) has a supplier network where many suppliers are small and medium-sized enterprises (SMEs) that can hardly obtain loans. With programmable CBDC, the Market Maker buyer can instruct its bank to programmatically write future CBDC and distribute them directly to the suppliers, who can then use these CBDC to improve operational capital efficiency or make payments to the next level of suppliers.

This simplified process provides many advantages for deep supply chain financing:

Enhanced Flexibility: Deep suppliers can use digital currency as Collateral for borrowing legal tender, unlocking new financing options and increasing operational flexibility.

Smoother credit assessment: Banks can use customer information collected through payment data to streamline the credit assessment process for small and medium-sized enterprises, and reduce the operational costs and risks faced by banks when collecting data.

Enhanced functionality and transparency: CBDC makes the operation of small and medium-sized enterprises more scalable, making it easier for all parties on-chain to report ESG management and sustainability.

Stability and confidence: From a broader perspective, CBDC enhances the stability and transparency of the entire supply chain.

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In the above scenario, smart contracts play a crucial role in helping to achieve the automation of payment and financing processes.

Pre-Defined Contract: By using Smart Contract, programmable writing can be done for CBDC, and payment and trade information can be combined to become a new trade financing tool.

Purpose-Bound Financing: Deep suppliers who do not meet the credit requirements can use Token as Collateral to obtain financing related to the issuance purpose.

Purpose-Bound Financing: This type of CBDC can be transferred by the market maker buyer to its supplier, who can immediately use it as a form of payment to the deeper supplier.

Obligation Fulfilment: Once the conditions in the Smart Contract are met, the Smart Contract will be executed automatically, and the CBDC restrictions will be lifted.

5.3 Digital Securities

Although it is effective for TradFi to securitize trade assets into financial products, it only applies to a limited subset of assets, such as working capital loans and import/export financing assets. Tokenization will greatly expand the set of investable assets.

Due to the short-term nature of trade assets, the entire process is inefficient in operation. At the same time, in order to track underlying assets, evaluate performance, and determine funds and payments, comprehensive management solutions are needed for trade asset categories.

These can all be solved through tokenization and the programmability of smart contracts, as well as the complexity and diversity behind AI automation. Data management can be simplified and automated through automated processes. Each token is traceable as it is associated with accounts receivable. This helps with status monitoring, minimizes human errors, promotes transparency for all parties involved, and supports the evaluation of accounts receivable and financing amounts.

Programmability also simplifies the transfer of ownership in the transaction process and improves transaction efficiency.

Tokenization creates a universal language for the standardized representation of accounts receivable, making cross-jurisdictional accounts receivable management more direct.

5.4 Reduce information asymmetry

Using Block chain to trace the underlying assets helps to reduce information asymmetry between issuers and investors, thereby enhancing investor confidence.

Developing a listing framework for tokenized assets is an important step in encouraging adoption and enhancing investor confidence. Making the issuance documents publicly available makes it easier for investors to obtain the relevant information needed for due diligence. Listing tokens also ensures a certain level of transparency for the issuance party and ensures compliance with regulatory disclosure requirements, which is crucial for many institutional investors.

Today's investors are more mature, demanding higher transparency and control. We will soon see tokenization products become a new method to reduce information asymmetry. In addition to representing underlying assets, tokens can also include other functionalities, including providing online access to operational and strategic data from the aforementioned assets. For example, in tokenization of working capital loans, investors can access operational parameters of the underlying business, such as profit margins or the potential number of customers in sales channels. This model has the potential to increase investment returns and elevate transparency to a new level.

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6. How to participate in the tokenization market?

Asset tokenization has the potential to change the financial landscape, providing higher Liquidity, transparency, and accessibility. Although it brings hope to all market participants, realizing its full potential requires the joint efforts of all stakeholders.

6.1 Adopt

For institutional investors seeking new asset classes or higher returns, tokenization can provide more concrete, differentiated solutions to meet their clients' specific risk-return profiles and liquidity preferences.

Family offices and high-net-worth individuals (HNWIs) can benefit from a more effective wealth growth approach through decentralized and transparent product structures, thereby unlocking opportunities previously unattainable.

To seize this investment opportunity, investors should start from a solid foundation. As this is an emerging and evolving industry, understanding new risks is crucial, so education is key to building professional knowledge.

For example, participating in the pilot program will enable investors and asset managers to experiment and build confidence in tokenized asset allocation.

6.2 Cooperation

The industry is at a turning point in fully embracing asset tokenization. Market-wide collaboration is crucial for realizing the benefits of tokenization. Overcoming distribution challenges and achieving better capital efficiency requires collaborative efforts. Banks and financial institutions can expand their coverage through collaborative business models, such as developing industry utilities for tokenization. Similarly, intermediaries such as insurance companies can serve as alternative distribution channels to expand market access. Recognizing the transformative impact of tokenization on capital and operational efficiency, the industry must come together and leverage the power of shared infrastructure.

In addition to Financial Institution, a broader ecosystem that includes technology providers and other participants must collaborate to create a supportive environment. It is essential to achieve interoperability, legal compliance, and efficient platform operations using standardized processes and protocols.

Tokenization is currently in its infancy and in a decentralized state. Urgent collaboration across the industry is needed to solve these critical issues, combining the robustness of traditional finance (TradFi) with the innovation and agility of Decentralized Finance. This strategy will pave the way for a more stable, unified, and mature digital asset ecosystem, balancing technological advancement with regulatory consistency and market stability.

6.3 Promotion

Finally, not only market participants, but also governments and regulatory agencies play a key role in promoting responsible growth in the digital asset industry. By implementing policies that encourage global trade and support communities (such as creating job opportunities), they can promote industry development while mitigating risks.

A clear and balanced regulatory framework can promote innovation while guarding against the pitfalls of the encryption industry.

It is also crucial to establish public-private partnerships with banks and other financial institutions. These partnerships can accelerate industry development by promoting responsible and sustainable growth.

Through this cooperation, regulatory agencies can ensure that the growth of the digital asset industry benefits the economy, improves global financial integration, creates employment opportunities, and maintains market integrity and investor protection.

[Disclaimer] The market is risky, and investment should be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views, or conclusions in this article are consistent with their specific circumstances. The responsibility for investment lies with the user.

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Original Author: Web3 Koritsu

Standard Chartered is very bullish on asset tokenization! The report reveals 3 major advantages: demand is expected to reach 30 trillion baht in 10 years. This article was first published in 'encryption City'.