Morgan Stanley is using DTCC’s Tokenization Service. We examine what is live, what margin and financing workflows require, and where Treasuries and equities could deliver commercial value.
Tokenized assets can move around the clock. This Strategic Edge analysis examines what must happen before that mobility becomes usable institutional collateral.
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.
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?
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?
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
