Wall Street's Tokenization Infrastructure Accelerates
Major exchanges and banks build blockchain settlement rails as tokenized assets hit $25 billion and stablecoins reshape institutional payments infrastructure.
Market Moves
Nasdaq Moves Closer to ‘Always On’ With Tokenization Plan
Nasdaq partners with Kraken to develop tokenized stock infrastructure, enabling 24/7 equity trading and connecting traditional markets to blockchain networks for institutional clients.
Eugene Ludwig courts banks for stablecoin alternative
Former Clinton administration official Eugene Ludwig’s firm Cari lines up five banks to support tokenized deposits for real-time payments as a stablecoin alternative. The initiative represents traditional banks’ effort to compete with stablecoin payment rails while maintaining regulatory compliance.
Societe Generale-FORGE launches EURCV stablecoin on Stellar
Societe Generale’s digital asset arm FORGE launches MiCA-compliant euro-backed stablecoin EURCV on Stellar network as part of multichain strategy. The expansion demonstrates European banks’ growing embrace of regulated digital asset infrastructure.
Global insurance broker Aon tests stablecoin payments with Coinbase, Paxos
Global insurance broker Aon pilots stablecoin payments with Coinbase and Paxos for premium settlements, demonstrating institutional adoption of digital payment rails.
Regulation & Policy
OCC Unveils Proposed Rulemaking To Implement The GENIUS Act: A New Era For U.S. Stablecoin Oversight
The OCC unveiled proposed rulemaking to implement the GENIUS Act, establishing the first US framework for payment stablecoin issuers. This represents a major step toward comprehensive federal oversight of dollar-backed digital currencies.
Senators try to unlock stalled crypto Clarity Act with compromise on stablecoin yield
US senators propose compromise on stablecoin yield restrictions to advance the stalled CLARITY Act, with negotiations intensifying between crypto industry and banking lobby.
Bank of England open to revising stablecoin rules, Breeden says
Bank of England signals openness to revising stablecoin regulations as policymakers reassess digital currency frameworks amid growing institutional adoption.
US banking agencies guide capital treatment of tokenized securities
US banking agencies issued guidance on capital treatment for tokenized securities, providing regulatory clarity for banks holding blockchain-based financial instruments. The guidance helps banks understand risk-weighting requirements for digital asset exposures.
Research & Analysis
Stablecoin boom could eat into traditional banks’ profits, warn Jefferies analysts
Jefferies analysts warn that the stablecoin boom could erode traditional banks’ profit margins as digital currencies increasingly compete with deposit-based business models.
Public vs. Private Payment Platforms: Market Impacts and Optimal Policy
Bank of Canada published research comparing public versus private payment platforms in two-sided markets, analyzing competition between CBDCs and private platforms. The paper provides insights into optimal policy design for digital currency ecosystems.
https://www.bankofcanada.ca/2026/03/staff-working-paper-2026-10
Stablecoins are starting to reshape payments and banking, Macquarie says
Macquarie analysts reported that stablecoins are beginning to reshape payments and banking infrastructure, with institutional adoption accelerating across traditional financial services. The analysis highlights stablecoins’ growing role in settlement and treasury operations.
Tokenized Real-World Assets Hit $25 Billion, Nearly Quadrupling in a Year
Tokenized real-world assets hit $25 billion market cap, nearly quadrupling in value over the past year driven by institutional adoption. The growth demonstrates accelerating institutional interest in bringing traditional assets onto blockchain infrastructure.