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Tokenising assets goes hand in hand with cash on chain
Tokenisation is an area of great promise for capital markets. Many participants are working hard to create blockchain tokens that represents ownership of a broad spectrum of financial and tangible assets. But to deliver the benefits of tokenisation require a tokenised means of representing cash as well. Of the many benefits that tokenising assets could deliver, the most important is that it enables transactions to take place on a delivery-versus-payment basis. This ensures that one leg of a transaction cannot be sent without the other, thus eliminating counterparty risk. This counterparty risk is a costly and ... (full story)