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.
Visa and Mastercard are stitching together the infrastructure for 24/7 stablecoin-funded corporate payments, connecting blockchain transfers, payment orchestration and fiat payouts. But who provides the liquidity that makes funds available in recipients' bank accounts, and who bears the financing cost? Using a $50 million cross-border treasury transaction, we examine the three critical layers of global payments, compare liquidity funding costs against transaction revenues and
Project Agora just demonstrated digital money interoperability by completing real value transactions using tokenized commercial bank deposits and central bank reserves on shared infrastructure...
Institutional digital money is developing through a new model: global infrastructure supplied by GSIBs and always-on payment services distributed by local banks...
Institutional digital cash is evolving rapidly as tokenized deposits, blockchain-based payments and tokenized securities settlement move into production...
BIS Project Agora: tokenized central bank reserves and commercial bank deposits can operate on a shared ledge to upgrade wholesale cross-border payments...
Onchain vaults, or pooled investment vehicles deployed on blockchain rails, have scaled rapidly from $24B AUM in 2023 to $131B in 2026, a 541% increase according to S&P Global...
Digital assets are pushing global markets towards a 24/7, always-on system. Bank of England's latest paper on extending settlement hours is one of the clearest signals yet of where this is heading...
Boston Consulting Group (BCG) drops the Future of Digital Assets report and says tokenized RWAs could reach ~16% of global investable assets by 2035. Key takeaways...
The Bank of England is reassessing its proposed stablecoin framework after acknowledging earlier rules may have been too conservative, following sustained pressure from the digital asset industry...
The Congressional Research Service (CRS), the official nonpartisan research arm of Congress, published a detailed overview of decentralized finance (DeFi), offering one of the clearest windows yet into how U.S. lawmakers are being educated on the role of DeFi within financial markets.
In a bombshell report, BIS explained crypto exchanges replicate core banking and capital markets functions, but without equivalent regulation, transparency or safeguards. Key takeaways...
Aave, the biggest DeFi platform accounting for 25% of the $100B of value locked in DeFi, saw its TVL tumble from $25B to $20B as one of its lending product suffered a $290M hack last night.
