Nasdaq, NYSE and LSEG are building tokenized stock businesses around different commercial bets. We compare their approaches to shareholder rights, settlement, extended trading and crypto-native distribution and what those choices reveal about the customers they want to reach.

What does 1,000% surge in a single product category signal about the future of exchanges? We unpack the numbers, acquisition strategy and ownership logic behind the Robinhood and Crypto.com partnership and the opportunity to earn beyond crypto trading.

The SEC’s transfer agent proposal could bring blockchain into official securities ownership records. This Strategic Edge note examines what the reforms enable for tokenized securities and digital-asset transfer agents—and what remains unresolved around identity, ledger control, regulatory access and transfer finality...

Citi’s live tokenized deposit transactions with FAB and OCBC reveal how institutional digital money could scale across banks. This Strategic Edge note examines Swift’s DLT ledger as the coordination layer, global banks as distribution hubs, and the emerging hub-of-hubs model for interbank payments, liquidity and tokenized asset settlement...

Tokenized money market funds are moving beyond product launches. Stablecoin reserves, embedded distribution, treasury automation and collateral utility will determine which asset managers capture the market’s next wave of growth...

Standard Chartered has disclosed that its tokenised-money activity reached an approximately $11 billion monthly run rate...