Digital Asset completes pilot project on tokenization of UK bonds, gold, etc. with Euroclear, World Gold Council and other institutions

RWA tokenization company Digital Asset said on Tuesday it has completed a pilot program to tokenize UK gilts (gilts), Eurobonds and gold for financial transactions using the Canton Network protocol. Major securities settlement provider Euroclear, the World Gold Council and global law firm Clifford Chance are also involved in the process along with other banks, investors, custodians and a central securities depository. In the pilot project from June to July, the project created digital representations of UK gilts, Eurobonds and gold for use as collateral, with greater transparency, faster transfer speeds and 24/7, near-instant settlement between parties, without the delays associated with traditional financial rails. The report by Boston Consulting Group and 21Shares predicts that in an optimistic scenario, the market value of tokenized assets will exceed $10 trillion by the end of the decade, while McKinsey predicts $2 trillion by then in its base case. (CoinDesk)