Press & News
Machine-Understandable Markets
Super intelligence is only as good as the data it can read. Onchain finance shows what born-structured financial data looks like, and why common standards beat more disclosure.
market infrastructure
Press & News
MiCA's Next Challenge: Turning Regulatory Clarity Into Market Visibility
Before recalibrating a threshold, check how the metric is computed. Allium's September 2026 response to the European Commission's targeted consultation on the review of MiCA, and what independent onchain data can and cannot tell a supervisor.
Press & News
Allium Comments on FINRA's Proposal to Modernize Best Execution Guidance
Standardize evidence, not outcomes. Allium's comment letter to FINRA on modernizing Rule 5310 best execution guidance.
Explainers
What Does a Crypto Index Provider Actually Do?
A crypto index provider builds the reference prices and benchmarks that markets trust. Here is how the function works, what it borrows from TradFi, and why onchain fragmentation makes it hard.
reference rate
Reference Rate for Crypto: How Onchain Pricing Works
A reference rate for crypto is a standardized, methodology-driven benchmark price used to value, settle, and audit digital assets. Here is how it works and why fragmented onchain markets make it hard.
Press & News
Allium Comments on the SEC's Proposal to Rescind Regulation NMS Rules 611 and 610(e)
Standardize evidence, not outcomes. Allium's comment letter to the SEC on the proposed rescission of the trade-through rule.
securities lending
Securities Lending for Tokenized Securities Explained
How securities lending works in traditional markets, what it looks like when the collateral and the loan live onchain, and what remains unbuilt.
prime brokerage
Prime Brokerage for Digital Assets Explained
Prime brokerage for digital assets bundles execution, custody, financing, and settlement into one relationship. Here is how it works and what remains unresolved onchain.
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.
tokenization
Dematerialization vs Tokenization: A Clear Guide
Dematerialization turned paper stock certificates into electronic book-entry records held at a central depository. Tokenization moves ownership records onto public blockchains. This guide explains what each one actually does and why the difference matters.
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
Atomic Settlement for Tokenized Securities Explained
Atomic settlement lets a tokenized security and its payment change hands in a single, indivisible transaction. Here is how it compares to T+1, what breaks, and what is still being built.