Deep dives on one vendor, product or system at a time: the institutional problem it answers, how it works, and what it means for the business. Every piece discloses any relationship with the vendor.
Tokenised bank deposits and reserve-backed stablecoins as settlement assets
A bank can put its deposits on a ledger, or a licensed issuer can issue a stablecoin backed by reserves. For the holder, the bank and the regulator, what differs?
Hong Kong, Singapore
Legal and technical settlement finality on shared ledgers
A payment system has a legal moment after which a transfer cannot be undone. On a shared ledger, when is that moment, and who defines it?
Hong Kong, Singapore, India
Permissioned tokens on public blockchains: holder whitelists and issuer controls in the token contract
Banks and fund managers in Singapore and Hong Kong issue tokens on Ethereum but limit who can hold them. What does a permissioned token on a public chain give them that a private ledger does not, and what risk remains?
Singapore, Hong Kong
Tokenised corporate bonds on a depository ledger, settled in wholesale CBDC
India's bonds have been electronic in depositories since 1996. What does issuing them as tokens on a depository-owned ledger add, and what does it leave unchanged?
India
Settlement finality on a shared ledger
Sample content. When is a tokenised transfer final for legal and accounting purposes, and who decides?
Singapore, Hong Kong