Atomic Settlement
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The orchestration layer
When rails commoditize, the routing decision is where the economics compound, but it's also where the systemic risk concentrates.
Jun 7
•
Stuart Cook
2
May 2026
The wallet is the bundle
Merrill bundled four products in 1977 and changed who owned the customer. Tokenization lets the wallet bundle everything.
May 31
•
Stuart Cook
1
1
Banks Enter the Stablecoin Era
BIS Project Agora illustrates tokenized wholesale payments can settle in seconds across borders, while a US national bank issues the first stablecoin to…
May 29
•
Stuart Cook
2
Bank money and bearer money
Tokenized deposits and stablecoins are doing different jobs. Banks that pick one are solving half the problem.
May 24
•
Stuart Cook
3
There are two roads to tokenized money, and bankers shouldn't ignore either one
The US and Europe have made opposite bets on who should issue tokenized money
May 17
•
Stuart Cook
4
1
1
Every bank needs a wallet
Most banks will never issue a stablecoin. Almost every bank will need to receive one.
May 10
•
Stuart Cook
Wall Street's Tokenization Era Going Live
The DTCC sets a July pilot and October launch for tokenized securities with 50+ institutions onboard
May 6
•
Stuart Cook
2
The Core That Cannot Hold
Core banking is the largest, least loved, and least replaced category in enterprise software. The conditions that protected it for forty years look like…
May 3
•
Stuart Cook
10
1
April 2026
Visa Stablecoin Expansion Accelerates
Visa's stablecoin settlement pilot expands to nine blockchains with $7 billion run rate, major partnerships between Securitize and Computershare and…
Apr 29
•
Stuart Cook
Caught inside
The banking lobby is fighting against stablecoin yield. It is the smallest of the waves in the tokenization set.
Apr 26
•
Stuart Cook
6
2
Stablecoin Integration Accelerates Across Banking
Major payment providers like DoorDash and Nium embrace stablecoin payouts while European banks form consortium for MiCA compliant euro stablecoin.
Apr 21
•
Stuart Cook
Infrastructure, Not Products
Why the banks defining the next era of finance aren't launching tokenization pilots, they're rebuilding their pipes.
Apr 19
•
Stuart Cook
2
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