Analysis
Insights, analysis, and commentary from the OMNM team
BNY and Citadel Securities Just Put a Tokenized Treasury Into Tri-Party Repo. The Treasury Settled in Minutes, Not the Usual Next-Day Cycle.
A two-year Treasury note settled within minutes on BNY's private ledger, then became overnight repo collateral, with BNY providing cash to Citadel Securities.
S&P Global Just Launched a Risk Framework for Onchain Lending Vaults. The Agency That Grades Trillions in Debt Is Getting Ready to Grade DeFi.
Days later, Moody's issued its first-ever stablecoin protocol rating, and the grade came back junk.
Crypto Advisers and Funds Could Soon Hold Their Own Keys. Wall Street's Custody Rule Is Getting a Crypto Carve-Out.
The SEC's new proposal lets advisers and funds self-custody crypto when no qualified custodian will hold it, with compliance costs the SEC models near $434,000 a year for those who do.
The ECB Just Launched Pontes, a Wholesale Settlement System for Tokenized Bonds. Central Bank Money Is Now the Rails.
Europe's central banks went live with blockchain settlement for institutional trades. This is not a pilot.
The SEC Just Did What Congress Wouldn't
Five years of legal cover for tokenized U.S. stocks. Wall Street can start trading equity on-chain without waiting for a single new law.
AI Agents Cannot Keep a Secret. My New Book Is About What Comes Instead.
Secrets and Agents is out now. It is not a crypto book. It is about what happens when software starts proving things for us.
Nasdaq Just Put $100 Million Behind Kraken to Build Tokenized Stocks With Shareholder Rights. This Is the Version Wall Street Can Actually Use.
The exchange that lists Apple and Microsoft is funding the infrastructure to move those same shares onto blockchain rails, with the shareholder register attached.
Goldman Sachs Was a Holdout in August. It Just Turned Up as a Founding Member of a 21-Bank Stablecoin Company.
In June we told you the big banks picked tokenized deposits over stablecoins. This says they picked both, and that changes who loses.
Coinbase Put Apple, Nvidia, Meta, and Alphabet on Base. The Tokens Aren't the Story.
A tokenized stock stopped being a picture of a share and started behaving like a blockchain asset — with an Abu Dhabi trust underneath it, an oracle that turns dividends into arithmetic, and a lending market switched on before the opening bell.
The SEC Just Wrote Its Own Crypto Rulebook While Congress Was Out of Town. It Leaves Out Congress's Insider Lockup.
Regulation Crypto Assets and the CLARITY Act answer the same question about insider token sales two different ways. If the bill dies in September, only the regulators' answer survives.
Wells Fargo Is Launching Tokenized Deposits. The Stablecoin War Just Became a Race Between Trust and Portability.
Stablecoins solved portability before they solved institutional trust. Banks already have the trust. Now they are trying to buy the portability.
BlackRock Is Bringing a $311 Billion Cash Business Onchain. The Real Prize Is Stablecoins.
When the world's largest asset manager tokenizes institutional cash, it's a distribution play dressed as innovation.
JPMorgan, Bank of America, Citi, and Wells Fargo Are Merging Their Blockchain Deposit Projects Into One Network. Here's Why It Matters.
Four of America's largest banks are building a shared tokenized deposit system through The Clearing House. Real money is already moving.
Japan's AZ-COM Maruwa Is Moving 2,300 Logistics Partners onto a Yen Stablecoin. Here's Why a Tokyo-Listed Company Is Settling With Its Drivers in JPYC.
A regulated corporate stablecoin rollout in Japan shows how legal clarity enables real-world adoption faster than hype.
DTCC Just Tokenized Real Stock and Treasury Bonds in Live Production. JPMorgan, Vanguard, and BlackRock Are Trading Them Now.
The company that settles $4 quadrillion a year just stopped testing and started running tokenized securities with more than 30 firms.
Six markets, one question, one screen
I set out to trade the disagreements between them. The map I had to build first turned out to be the more valuable thing, so I am giving it away, free.
SWIFT Just Put 17 Banks on a Shared Blockchain Ledger. Here's Why Citi and HSBC Signed On.
The messaging giant went live with tokenized deposits and weekend transfers. Final settlement still hits the old rails.
The First Tokenization Company Just Listed on the NYSE. Wall Street May Never Go Back.
BlackRock-backed Securitize went public and tokenized its own stock on day one. The NYSE just got its first RWA rails.
Intercontinental Exchange and OKX Just Built a Regulated Bridge Between Wall Street and Crypto. Andrew Cuomo Is Co-Chairing It.
The NYSE parent and one of the world’s largest crypto exchanges are tokenizing equities and futures under U.S. regulation. Here’s what just changed.
A Blockchain Alternative to SWIFT Just Settled $69 Billion. Investors Should Pay Attention.
The first large-scale CBDC settlement network is moving from pilot to commercialization, and it arrives exactly as the U.S. is betting on stablecoins.
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Explore Education ModulesPopular Guides
Deep-dive explainers on the topics that matter most in crypto and AI
Crypto Explained
View all →Bitcoin Explained
How Bitcoin works, why it matters, and what drives its value.
Ethereum Explained
Smart contracts, DeFi, and the programmable blockchain.
Blockchain Explained
The foundational technology behind digital assets.
What Is DeFi?
Decentralized finance and the future of lending, trading, and yield.
Stablecoins Explained
Dollar-pegged tokens and their role in the crypto ecosystem.
What Are Real-World Assets?
Tokenizing real estate, bonds, and commodities on-chain.
What Is a Security Token?
Regulated digital securities and compliant token offerings.
Agentics
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How autonomous AI agents are using blockchain for payments and governance.
How AI Agents Decide Who to Trust
On-chain reputation, wallet verification, and the trust infrastructure for autonomous agents.
AI & Blockchain
The convergence of artificial intelligence and distributed ledger technology.
Agent Commerce Infrastructure
The wallets, rails, settlement layers, and verification systems behind the AI economy.
Machine-to-Machine Payments
Crypto-powered payments between autonomous systems and devices.
Why APIs Will Replace Wallet Logins
How server-side verification is replacing wallet popups for humans and agents alike.