Digital Asset Completes Pilot Program For Tokenizing Bonds And Gold

According to Odaily, Digital Asset, a company specializing in the tokenization of real-world assets (RWA), announced on Tuesday the successful completion of a pilot program using the Canton Network protocol to tokenize UK bonds (gilts), European bonds, and gold for financial transactions. The initiative saw participation from major securities settlement provider Euroclear, the World Gold Council, global law firm Clifford Chance, along with other banks, investors, custodians, and a central securities depository. During the pilot project, which took place from June to July, digital representations of UK government bonds, European bonds, and gold were created to be used as collateral. This approach aimed to enhance transparency, speed up transfer times, and enable near-instantaneous, around-the-clock settlement between parties, eliminating delays associated with traditional financial systems. A report by Boston Consulting Group and 21Shares forecasts that, in an optimistic scenario, the market value of tokenized assets could exceed $10 trillion by the end of this decade. Meanwhile, McKinsey's base case scenario predicts the market will reach $2 trillion by that time.