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
Stablecoins can move £50 million across borders in seconds, but that doesn't guarantee usable liquidity in a corporate bank account. Our £50M Treasury Test examines how stablecoins, tokenized deposits, Mastercard Move, Swift and Fnality address the gap between 24/7 settlement and fiat availability, who bears the liquidity costs, and where the commercial value lies.
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.
BNP Paribas and HSBC have facilitated a cross-border, cross-currency tokenized-deposit transaction for Siemens using Swift’s shared ledger. The transaction reveals how a hub-of-hubs model could connect banks’ proprietary tokenized-deposit systems without requiring corporates to adopt new treasury infrastructure...
Institutional digital money is developing through a new model: global infrastructure supplied by GSIBs and always-on payment services distributed by local banks...
