NYSE parent ICE and OKX are preparing to launch one of the first large-scale tests of the SEC’s third-party custodial tokenization model for U.S. equities. The structure could help determine which tokenization model scales public stocks onchain the fastest.
Hong Kong’s HK$20 billion digital green bond offering on HSBC Orion reveals what scaling tokenised capital markets requires: bank money that works across institutions, dependable interbank settlement and payment linked to bond delivery. We unpack the infrastructure and what remains before it can operate around the clock.
Tokenized payments are becoming enterprise software. Where can infrastructure providers build scale and capture market share—and what will customers pay for? This Strategic Edge examines how interoperability, integration and distribution shape competition, and how providers can translate connectivity into payment, liquidity and treasury products that meet customer demand.
Nasdaq’s $100M investment in Payward brings traditional market infrastructure closer to crypto distribution. As tokenized equities grow, the deal raises a defining question: will value accrue to the exchanges that list stocks or the platforms that own the investor relationship?
Crypto exchanges are evolving into multi-asset financial infrastructure. Explore the implications for wealth managers, traditional brokers and neobanks...
Embedded wallets are the relationship layer for onchain finance and Kraken, the $20B exchange, just acquired infrastructure that has powered more than 60 million of them...
Deutsche Borse has invested $200 million in Payward Inc., the parent of crypto trading platform Kraken, as the Frankfurt stock exchange operator moves to offer access to a wider array of securities over blockchain rails. The deal, which gives Deutsche Börse a 1.5% fully diluted stake in the company.
