tokenized securities
15c3-3 for Tokenized Securities: A Clear Guide
SEC Rule 15c3-3 requires broker-dealers to segregate and control customer securities. Here is what possession and control mean when the security is a token on a blockchain.
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tokenized securities
Transfer Agent for Tokenized Securities Explained
A transfer agent keeps the official record of who owns a security. Here is what that function does in traditional markets, and what it looks like when the security is a token on a blockchain.
tokenized securities
Clearing and Settlement for Tokenized Securities
A plain-English explainer on how clearing and settlement work for tokenized securities, from the DTCC model that built modern markets to the emerging onchain equivalent.
tokenized equities
Tokenized Equities: How Onchain Stocks Work
Tokenized equities move ownership of stocks onto blockchains, enabling faster settlement and around-the-clock access. Here is how they work, where the market stands, and what still needs solving.
tokenized equities
Consolidated Tape for Tokenized Equities Explained
Traditional stock markets have a consolidated tape and a national best bid and offer. Tokenized equities do not yet. Here is what that reference layer does, why it exists, and what building it onchain requires.
onchain finance
Onchain Financial Market Infrastructure Explained
Traditional markets run on plumbing most people never see: CUSIP, DTCC, the consolidated tape, custody rules. Here is what those functions do, and what their onchain equivalents look like today.