It explores the impact of tokenisation of financial assets through the issuance of a SARB debenture – or debt security - on DLT, and highlights a number of legal, regulatory and policy implications when applying this technology in financial markets.
At the heart of the crisis were contagion effects among firms holding similar assets--particularly, tradable assets--and the withdrawal of much of the shortterm wholesale funding on which many large financial firms and the shadow banking system had come to rely. Needless to say, the larger the firm with lots of tradable assets and runnable funding, the greater the additional threat to the system.