Chakar talked about the potential for tokenisation to transform today's financial markets through further automation, increased efficiency and lower costs.

In the hearing, titled 'Next Generation Infrastructure: How Tokenization of Real-World Assets Will Facilitate Efficient Markets, Chakar testified to benefits that could be offered by employing digital ledger technology in transaction processing and lifecycle management of real-world financial assets, such as tokenised securities in the US markets.

The challenges inherent in developing an integrated digital assets platform for the industry were also discussed, noting that "technology on its own will not change the markets — it will require collaboration and coordination among all stakeholders, and it needs to be measured and thoughtful."