Bubble or backbone? Digital assets, crypto and blockchain debate
When I launched Honner 28 years ago, financial communications was a niche discipline. Our clients were global giants like State Street and Russell Investments, and our role was to translate complex financial concepts for a small circle of institutional decision-makers. Since then, the industry has expanded, fragmented and reinvented itself many times. Honner has adapted at every stage. Today, our expertise spans the full spectrum of financial services: from private markets and ETFs through to the fast-growing world of digital assets, blockchain and crypto firms.
This ability to evolve with the industry — and to bring knowledge from one part of the market to another — is more important than ever. The current digital assets revolution marks another turning point. While the future of cryptocurrencies remains debated, blockchain technology is already reshaping financial services.
Here are five areas where that transformation is underway.
1. Custody goes institutional — and Australia is in play
Digital assets can’t scale without safe, regulated custody. That’s why banks like Citi and State Street are building services for stablecoins, crypto ETFs and tokenised funds with the same rigour as traditional platforms.
Australia is now part of this global shift. Even ahead of the Albanese Government’s forthcoming regulation and licensing regime, a wave of local and international players are moving in. Anchorage Digital — the only federally chartered crypto bank in the U.S. — has launched locally through a strategic partnership with our client, MHC Digital Group. Meanwhile, homegrown entrants such as Cloudtech are bringing institutional-grade custody solutions to market, underscoring the strong demand from crypto investors and blockchain firms.
2. Settlement moves in real time
Most securities still settle on a T+2 or T+1 basis, creating cost, counterparty risk and friction. Blockchain technology enables automatic settlement — where assets and cash move simultaneously — allowing transactions to close in seconds. This has the potential to reshape liquidity management, collateral allocation and risk pricing across markets.
3. Exchanges become universal marketplaces
Exchanges are converging. The days of siloed venues — equities here, bonds there, crypto somewhere else — are numbered. The next decade will bring multi-asset marketplaces where investors can trade everything from tokenised real estate to digital bonds alongside stocks and ETFs. Crypto exchanges are moving into traditional assets, while traditional exchanges are experimenting with blockchain rails.
4. Tokenisation scales across asset classes
Traditional global asset managers such as BlackRock, Fidelity and Franklin Templeton have launched tokenised funds, offering 24/7 trading rather than fixed daily windows like the ASX. The benefits are clear: lower costs, faster settlement, fractional ownership and broader access. For investors, this isn’t just efficiency — it’s democratising private markets once limited to large institutions.
5. Diversification for traditional portfolios
Integrating cryptocurrencies into investment portfolios can serve as an effective diversification strategy. With low correlation to traditional assets such as equities and bonds, crypto can help investors potentially enhance returns and reduce overall portfolio risk.
Honner’s role
At Honner, we work with leaders across digital assets, blockchain, tokenisation, fintech, ETFs and private markets to navigate these tectonic shifts. We help organisations articulate their strategy with clarity and confidence — whether that’s embracing innovation, educating stakeholders or managing risk.
The debate on digital assets has arrived in boardrooms. The real question is: are they a bubble, or the backbone of the next era of finance?
For firms in the crypto, blockchain and digital asset space looking for a PR and communications partner who understands your market, Honner brings more than 25 years of financial services experience — helping global and local firms build reputation, engage stakeholders and grow with confidence.