Digital assets and tokenization are expected to revolutionize the global financial system and enable new capabilities, liquidity, and opportunity for financial services firms. Most people think if blockchain can enable real-time DvP technologically, then institutions can just plug in, click YES and we have tokenized markets in securities lending, margin collateral, and repo. Unfortunately that is NOT how things work. Blockchain is the technology unlock. But we need unlocks ac

Citi Institute published its annual stablecoin report. It has done such a great job at articulating the digital money revolution, I am going to dedicate this Weekly Research note to unpacking and contextualizing its top 3 takeaways. Instead of reading all 54 pages, here’s 3 key highlights distilled into 3 mins for you: Stablecoins may be especially useful for digital-native firms, retail users, and frontier markets. For developed markets where instant payments already exist,

Tokenized money market funds (MMFs) are reshaping global finance. With 7,000%+ growth since 2023, they are the fastest growing tokenized asset class. But here’s the catch: the majority of the money invested are from crypto-native investors instead of institutional investors. So what will unlock institutional capital at scale? 👇  Archax  is pointing the way with its tokenized Aberdeen Liquidity Fund (AAULF):   Fully regulated (product, issuer & distribution platform) AAA-rate

Welcome to Part 2 of the Why Tokenized Deposits Are a MUST for Every Bank  series. Stablecoins have proven to be  a powerful digital innovation for cross-border payments , especially in emerging market corridors where banking and payment infrastructure is underdeveloped. But they also pose a serious risk to traditional banking. The U.S. Treasury Borrowing Advisory Committee has warned that as much as $6.6 trillion or around 40% of U.S. retail deposits could migrate into stabl

Stablecoin could pull $6.6T deposit out of the banking system. This is an extinction level threat. Time for banks to get competitive. Here is how.

While the headline out of Washington last week was the SEC’s SuperApp policy framework , the quiet story that flew under the radar was Circle President Heath Tarbert’s visit to Korea - meeting with the central bank governor, the country’s largest banks, and top exchanges. Why does this matter? I’ve been saying for some time: the future of stablecoins is multi-currency. With Korea’s Digital Assets Basic Acts (DABA), a regulatory framework equivalent to the U.S. GENIUS Act, nea

Circle, the largest regulated USD stablecoin issuer, posted blockbuster Q2 2025 results last week: USDC supply: +90% YoY Revenue: +53% YoY Adjusted EBITDA: +52% YoY Launching Arc, a payment-focused and privacy-enabled Layer-1 blockchain But buried beneath the headlines is the real strategic move of the quarter: the launch of the Circle Payments Network (CPN) . CPN is Circle’s global regulated stablecoin clearing solution . It combines: Cross-border orchestration with cross-ch

BlackRock's tokenized MMF saw an unprecedented outflow equaling to 14% of its AUM in past two weeks. Here is what happened.

Last week we broke down 4 (Coinbase, Robinhood, Block and CME Group) of the top 8 US public companies with significant digital asset revenue in the exchange business and the powerful underlying business growth trend.  This week, we shift the spotlight to the other 4 leaders driving revenue through Stablecoins, Asset Management, and Bitcoin Treasury  strategies. Here’s what we’ll unpack: How big are they? What trends are driving growth? Who’s likely to join them next? Let’s d