Tag Archives: blockchain

“…if the record of ownership lives onchain…”

The SEC Already Told You Which Kind of Tokenization Is Real Strip the footnotes off the staff statement three SEC divisions put out on January 28 and here is the whole thing in one line: if the record of ownership lives onchain, a tokenized security is just a security in a new format, and theContinue reading ““…if the record of ownership lives onchain…””

Europe Can’t Build Its Way Out of This Problem by Committee

Thirty-seven banks. Fifteen countries. One quote that explains everything. Today CoinDesk reported that Qivalis, a European bank consortium building a euro-backed stablecoin, has tripled its membership to 37 financial institutions across 15 countries. ABN AMRO, Rabobank, Intesa Sanpaolo, Nordea…real names, serious capital. They are targeting a MiCA-compliant euro stablecoin launch in the second half ofContinue reading “Europe Can’t Build Its Way Out of This Problem by Committee”

Tokenization’s Real Value is not 24/7 Liquidity

Tokenization’s Real Value Isn’t What You Think Everyone’s celebrating 24/7 liquidity as the breakthrough benefit of tokenizing real-world assets. And yes, in a world where markets and news cycles never sleep, continuous trading access matters. But if you’re a retail investor cheering loudly right now, history suggests you should be careful what you wish for.Continue reading “Tokenization’s Real Value is not 24/7 Liquidity”

CFTC’s Approval of Digital Assets as Collateral

Its incredibly rewarding to see the CFTC’s recent pilot program and allowance of the use of digital assets as collateral for CFTC-registered entities. Here is why it matters: The CFTC’s recent launch of the Digital Asset Collateral Pilot Program is not merely as a regulatory “test,” but is the inevitable modernization of the global clearingContinue reading “CFTC’s Approval of Digital Assets as Collateral”

The Industry of Staking

I have stated previously that my favorite class at Babson was CSCA: Competitive Structure, Competitive Analysis. The late (great) professor Lawless challenged us to think big picture about the strategic and long term choices competitors make. To me strategic decision-making for companies is like the Beta part of public market investing….be correct with your allocationContinue reading “The Industry of Staking”

To Make it in Crypto, Be Onchain

I saw a recent post by @intern on x.com And I was reminded of a lesson learned while I worked at Circle. After a restructuring of the Revenue Team, I had inherited a “sales team” that had been hired by two different managers. Some had been hired to sell Circle’s minting/redeeming API’s to corporates, someContinue reading “To Make it in Crypto, Be Onchain”

The $2 Trillion Addressable Market

Those I have worked with over the last few years know my obsession with using tokenized High Quality Tokenized Assets (HQLA) as margin collateral and a means of settling trades. Broadly defined, HQLA is cash held at banks, cash that has direct access to a Sovereign’s Repo Window, or short-term Sovereign debt like T-Bills.  🧠TheContinue reading “The $2 Trillion Addressable Market”