With trillions of dollars transferred annually, tokenized money is the undisputed leader in tokenization adoption—dominating the digital asset space far beyond traditional banking while proving its superiority vs the traditional settlement rail. Banks are now racing to catch up, eager to integrate tokenized money into their offerings and avoid getting left behind. But what should banks focus on when designing and launching their own tokenized money products? In this week’s n

Lloyds Banking Group recently published an excellent article on the transformative power of blockchain and tokenization. It was the first time a financial institution put out a paper that non-technical readers can pick up and grasp things intuitively.  I found its social messaging groups and ship containers analogies to be extremely poignant to abstract away complex concepts and get to the core functional differentiations.  To distill the full article into its most important

Happy August. I hope many of my readers are receiving this week’s newsletter from somewhere paved with warm white sand and dotted with lazily swinging palm trees.  As we savour these warmer months of the year, I thought it would be the perfect time to take stock of the 2024 tokenization market by looking at all the money that went into funding this years’ tokenization startups. Where are investors putting their money? The 3 key questions we are looking to answer: Who are the

A few weeks ago I started the series “How will tokenized MMF scale to trillions AUM?” We looked at three traditional finance use cases that are likely to adopt tokenization for immediate benefits and that benefits scaled into very large numbers. Having looked at US corporate cash management and derivatives collateral management in part 1  and part 2 , we are wrapping up the series with intraday repo as our last stop. Unlike the other two use cases, intraday repo is a new mark

How big are the US corporate cash management & global derivatives collateral opportunities for tokenized MMF?

How will tokenized MMFs change the financial system one market at a time.

Want to understand JPMorgan's Onyx? Here are its main products and GTM strategies.

Has the tokenized TBill market reached an inflection point given its +43% AUM growth in past 2 months?

BlackRock’s USD Institutional Liqudity Digital Fund  or BUIDL has been the talk of the financial press recently. As the first fund management product specifically launched on the blockchain by BlackRock to address the needs of the tokenized world that banking, finance and asset management are moving into, it is a watershed moment for the tokenization space and a massive validation for the utility of blockchains. The realized inflows totalled more than $250mill which blew past

A few weeks back I wrote a post  highlighting the 3 major difficulties facing many tokenization projects today. In that post I talked about why targeting incremental improvements in operational processes or capital usage would make much more sense as a go-to-market approach.  I have been chewing on the idea of capital efficiency improvement in crypto for the past two weeks and had a light bulb moment recently: scaling capital efficiency adoption through yield bearing stableco