Latest digital asset analysis

DTCC traded tokenized stocks in production

DTCC moved tokenized equities from pilot language into production. The real signal is what market infrastructure now treats as deployable.

The Fat Protocol Thesis Is Dead

Crypto's old cycle logic is breaking as distribution, not protocol ownership, becomes the scarce layer.

Swift Goes On-Chain: 17 Banks Pilot 24/7 Tokenized Payments

Seventeen banks tested 24/7 tokenized payments with Swift, pushing interoperability closer to institutional production.

186: banks went on-chain

SWIFT's blockchain ledger is ready with 17 banks piloting, Vanguard hunts a digital assets chief, Strategy sells the low, and Kraken assembles a bank.

tokenized stocks' first $3B month

Tokenized equities cleared their first $3 billion month, a threshold that changes the market-structure conversation.

Robinhood just rented a bank

Robinhood combined a blockchain, stock tokens and agentic trading — the clearest attempt yet to turn brokerage distribution into financial infrastructure.

185: they bought the 2026 low

Visa, Google and BlackRock backed a stablecoin that pays its users. Circle fell 16%. And the treasuries bought the low.

The interest business

This week, the Open Standard consortium announced Open USD, backed by more than 140 founding members, including BlackRock, Mastercard, Visa, Stripe, Ripple, Kraken, Galaxy, Robinhood, and others.

stripe, visa and blackrock vs circle

Hey, it’s Marc.

184: Kraken is buying DeFi

Kraken wants a piece of Aave. And Europe's MiCA cliff just locked Binance out.

Robots got bank accounts

Mastercard announced Agent Pay for Machines (AP4M), Visa announced Agent Score.

183: Wall Street wants the float

Stablecoin reserves are Wall Street's new trade as State Street and Fidelity join BlackRock. Plus the CME–CFTC perps lawsuit and MiCA's July deadline.

182: AI agents just got a credit card

America is locking up its Bitcoin for 20 years

The full text of H.R. 8957, the American Reserve Modernization Act is public. A 20-year lock-up, mandatory proof-of-reserve, and zero new spending authority on all BTC deposited into the reserve.

US Banks are going on-chain

JPMorgan, Citi, BofA, and Wells Fargo just announced a shared tokenized deposit network through The Clearing House, targeting 2027. Here's what it means for stablecoins and enterprise payments.

Why DTCC picked Stellar over Ethereum

Stellar becomes the first public blockchain in DTCC's tokenization service, joining Canton in a two-track plan to put $114T of custody on-chain by 2027.

181: JPMorgan, Citi, big banks go all-in on tokenized deposits

Money Movement 2.0: 2026 Edition [Report]

Today, live from Proof of Talk in Paris, we are publishing Money Movement 2.0 (2026), our most rigorous stablecoin report yet.

180: first bank to offer a stablecoin on a public blockchain

Bitwise just undercut 21Shares by 165 bps

Bitwise just listed Europe's second Canton Network ETP, and undercut the first mover by 165 basis points. The ETP is fully backed by CC, the native token of the Canton Network.