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MARKET INTELLIGENCE
Explore institutional digital-asset intelligence.
Access open research, Strategic Edge member analysis and institutional reports across the asset, cash and infrastructure layers of tokenized finance.
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Intelligence for institutional decision-makers.
Coverage spans the asset, cash and infrastructure layers of tokenized finance.


Visa Stablecoin Monetization Flywheel: How $25B in Settlement and 5M Cards Drive Revenue
Visa stablecoin monetization spans card network fees, payment orchestration and issuance infrastructure. With settlement surpassing a $25 billion annualized run rate, we examine where Visa already earns revenue, where new fee pools could emerge, and what remains undisclosed.
10 min read


Onchain Vaults: Connecting Tokenized Assets with Securities Financing
How crypto vaults are evolving from DeFi lending pools into capital allocation and securities financing infrastructure—and what institutions need next.
11 min read


Tokenized Deposit Interoperability: The $2 Trillion Interbank Settlement Challenge
The Clearing House and Quant are bringing tokenized-deposit interoperability to America's $2 trillion-a-day wholesale payment infrastructure. We examine CHIPS's 26:1 liquidity efficiency, Swift's global connectivity advantage and why Fnality's common settlement asset could reshape institutional payments, securities settlement and collateral mobility.
6 min read
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Chainlink, Aave and Hanwha: The 24/7 RWA Pricing & Collateral Opportunity
Chainlink’s 24/7 pricing and Aave Horizon adoption address weekend collateral valuation. Hanwha’s partnership highlights the next opportunity: financing tokenized assets.
1 min read


Uber, HSBC and Franklin Templeton: Weekend Cash Management with Tokenized Deposits and MMFs
Uber tested weekend investment in a Franklin Templeton tokenized money market fund using HSBC tokenized deposits. Could 1.5 extra days of yield cover Sunday redemption liquidity costs?
2 min read


Mastercard, BVNK and Airtm Assemble Stablecoin Payment Stack Economics
Airtm supplies customer distribution, BVNK connects stablecoins with financial infrastructure, and Mastercard brings payment reach. The stack is taking shape, but who captures which transaction fees?
1 min read


Binance Hack: What It Means for Institutional Digital Asset Custody
Binance's suspected multibillion-dollar hack exposes a critical gap in institutional digital asset custody. Beyond safeguarding private keys, institutions need asset-freezing capabilities, insurance, financial loss protection and clear accountability. Could bank custodians such as Citi and Standard Chartered hold the competitive advantage?
1 min read
![ICE invests and partners with [trade]xyz to bring Hyperliquid perps to US](https://static.wixstatic.com/media/608dc8_dc8ea91622674823867ce67586cd3bf5~mv2.png/v1/fill/w_334,h_250,fp_0.50_0.50,q_35,blur_30,enc_avif,quality_auto/608dc8_dc8ea91622674823867ce67586cd3bf5~mv2.webp)
![ICE invests and partners with [trade]xyz to bring Hyperliquid perps to US](https://static.wixstatic.com/media/608dc8_dc8ea91622674823867ce67586cd3bf5~mv2.png/v1/fill/w_290,h_217,fp_0.50_0.50,q_95,enc_avif,quality_auto/608dc8_dc8ea91622674823867ce67586cd3bf5~mv2.webp)
ICE and Trade[XYZ]: Hyperliquid Perpetual Futures to Regulated US Markets
ICE invests in Trade[XYZ] to develop regulated US perpetual futures using Hyperliquid. Explore seven market layers and unresolved clearing and collateral questions.
2 min read


DTCC Tokenization Service: What’s Live and What’s Next?
DTCC has officially launched its Tokenization Service, marking a major milestone in bringing blockchain technology into the heart of US securities infrastructure.
1 min read


BlackRock, SBI and Startale Explore Tokenized MMFs in Japan
BlackRock, SBI and Startale explore tokenized MMFs in Japan. How JPYSC could connect cross-border payments, investment liquidity and corporate cash management.
2 min read


S&P Global Is Building an Onchain Risk Intelligence Stack
S&P Global's acquisition of OpenZeppelin and strategic investment in Kaiko reveal an emerging onchain risk intelligence stack spanning financial, technology and market risks.
1 min read


OKXICE Tokenized Stocks: 21 US Companies Object
Issuer objections to OKXICE tokenized stocks reportedly rose from 16 to 21, exposing the commercial challenge facing third-party custodial tokenization.
1 min read


JPMorgan Brings JLTXX and MONY to on Solana: What Changes?
JPMorgan expands MONY and JLTXX to Solana. Why distribution, token delivery and legal recordkeeping matter—and how USDC access differs from fund settlement.
1 min read


Generali Tokenizes MMF for Collateral Mobility and Stablecoin Liquidity
Generali’s tokenized share class sits within an existing €13bn money market fund. We examine the potential for stablecoin reserves, collateral mobility and institutional distribution.
1 min read


OCC’s Final GENIUS Act Framework: Stablecoin Yield Banned But Rewards Allowed
The OCC has removed its proposed third-party yield presumption, not the issuer yield ban. We examine what that means for rewards, revenue sharing and competition from tokenized bank deposits.
1 min read


16 Issuers Reject OKX–ICE: Is Third-Party Stock Tokenization Dead on Arrival?
Sixteen companies have objected to OKX–ICE tokenized stock trading, challenging the commercial viability of third-party custodial tokenization. Meanwhile, bStocks, xStocks and Ondo demonstrate growing demand for alternative models.
2 min read


Visa and Mesh Remove Another Barrier to Stablecoin Spending: No Separate Crypto Card Needed
Visa and Mesh are connecting digital wallets to Visa's global acceptance network, potentially removing the need for separate crypto cards. The partnership signals a broader shift in stablecoin payments, linking wallet orchestration with existing card infrastructure.
3 min read


Samsung and Coinbase Bring Stablecoins to 82M Galaxy Devices
Samsung, Coinbase and Bastion are bringing USDC to Samsung Wallet, potentially reaching 82 million eligible Galaxy devices in the US. The integration will enable consumers to hold digital dollars, transfer USDC internationally and send funds to local bank accounts in more than 60 countries. Meanwhile, Allium reports $43 billion in stablecoin payroll and $37 billion in remittances during the first eight months of 2026.
2 min read


JPMorgan Brings Deposit Token JPM Coin to Ethereum
JPMorgan is bringing JPM Coin to Ethereum, positioning tokenized commercial bank deposits to compete with stablecoins for institutional liquidity. As banks expand across public blockchains, a critical question emerges: Will institutions prioritise the moneyness of commercial bank deposits or the distribution and interoperability of stablecoins?
2 min read


SBI and Startale Explore JPYSC Stablecoin FX With Open USD
Stablecoin FX is emerging as a critical missing link in 24/7 cross-border corporate payments. SBI and Startale's JPYSC/Open USD initiative could connect onchain currency conversion with stablecoin-funded payments and fiat payouts. But who will provide the liquidity needed to make the entire payment lifecycle work around the clock?
2 min read


Mastercard and BVNK Launch 24/7 Stablecoin and Fiat Payments Platform
Moving money, funding liquidity and making liquidity available are three distinct challenges in delivering 24/7 corporate treasury services. Mastercard's new Global Money Platform, powered by BVNK, aims to bridge these gaps by connecting stablecoins, fiat payment rails and liquidity services through a unified infrastructure layer. But can it deliver usable liquidity into corporate bank accounts around the clock?
2 min read


Kraken Parent Payward to Acquire Saldo Bank in European Banking Expansion
Kraken is evolving from a cryptocurrency exchange into a diversified financial services institution. Its parent company, Payward, is acquiring European bank Saldo Bank, expanding its capabilities across traditional banking, lending and card issuance. Combined with its strategic partnerships in tokenized equities, institutional trading and payments, the acquisition strengthens Kraken's position as one of the most consequential crypto-native businesses preparing for a potential
2 min read


Tokenized Collateral Mobility, 24/7 Margining and $346M in Funding Costs
Tokenized collateral is emerging as a balance-sheet optimization opportunity. Citi's latest report estimates that major financial institutions lose $346 million annually from idle collateral, with the average G-SIB managing $74 billion across 65 custody locations. From 24/7 margin management to tokenized US Treasuries supporting Asian CCPs, the report highlights how collateral mobility could reduce pre-funding requirements, unlock trapped liquidity and transform institutional
2 min read
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