tokenized securities
Central Securities Depository for Tokenized Securities
A plain-English guide to how a central securities depository works in traditional finance, and what its onchain equivalent looks like for tokenized securities.
market infrastructure
tokenized securities
Qualified Custodian for Tokenized Securities Explained
A qualified custodian holds securities on behalf of clients under strict legal and operational rules. Here is how that function translates to tokenized securities, and what is still unresolved.
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
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.