Tokenized Deposits: Everyone Is Building, Almost No One Is Connecting
Tokenized deposits are having their moment. Following the surge of stablecoins, banks and financial institutions worldwide are announcing coalitions, forming consortia, or already running live solutions to bring deposits, securities, and payments on-chain. Tokenized Money Maturity Landscape (select initiatives, not comprehensive) More than half (52%) of the top-50 U.S. banks are now evaluating or implementing […]
Non-USD Stablecoins Remain Niche and Highly Context-Specific
Although non-USD stablecoins remain a niche segment, regulatory developments are reshaping the digital money landscape in Europe. MiCA, together with evolving frameworks in the UK and Switzerland, is reducing uncertainty around stablecoins and tokenized deposits, enabling greater participation from banks, payment providers, and fintechs. This regulatory clarity is driving innovation across payments, settlement, custody, and […]
6% and Counting: The State of Stablecoin Merchant Acceptance
A Wave Of Acceptance Interest 1. C2B Acceptance Stablecoins Activity Timeline in 2025 (selected; non-exhaustive)
What Happened to PayPal?
The recent replacement of PayPal’s CEO after only two years in the role has sparked passionate discussion on what caused the decline of the original fintech unicorn. While, in retrospect, there have been some real missteps, we believe the more interesting question is what PayPal could yet become. Despite a decade of strategic drift, the […]
Decoding the Stablecoin Opportunity: An Introduction
In the last 12 months, a first wave of corporates and financial institutions began using fiat-backed stablecoins to cut cross-border settlement times from days to minutes and reduce costs without taking the price risk inherent in established cryptocurrencies like Bitcoin and Ethereum. Those early adopters will drive stablecoin payment volumes to hit $140-195B this year, […]