Alexander

We just released another edition of The State of Tokenization!! Check out the full newsletter below 👇 Key updates from July 2026: - Tokenized treasuries are now a $16 billion industry market - Swift releases blockchain ledger for 24/7 bank transfers - @Ondo Finance's Oasis Pro Markets wins SEC approval for tokenizing equities - @Securitize tokenizes its own stock following NYSE debut

We have 5k people listening in right now. If you want to hear from @Hedera's Chief Investment Officer about Hedera's future, then you should probably join 😂

We just published our latest Institutional Ethereum Update for July! Major highighlights from the report👇 - @MorganStanley filed amended S-1s for staked Ethereum and Solana ETFs, undercutting rivals with a 0.14% management fee and plans to stake 50–80% of ETH holdings through @Figment_io, @galaxyhq, and @coinbase. - Ethereum Institutional launched July 1 as an independent non-profit backed by BitMine, @Sharplink, and @Consensys, taking over the Ethereum Foundation's institutional outreach work as a dedicated "front door" for banks and asset managers. - @RobinhoodApp unveiled tokenized stocks giving exposure to 200+ US equities and ETFs, alongside plans for its own Arbitrum-based Layer 2 chain and new crypto perpetual futures and staking products. - BitMine Immersion Technologies grew its ETH treasury to 5.77 million tokens (4.8% of total supply), bringing it close to its stated goal of holding 5% of all ETH within a year. - BlackRock's tokenized funds surpassed $2.93 billion onchain, with Ethereum leading at $1.1 billion, as the broader tokenized asset market more than doubled over the past year to $34.73 billion.

For most of stablecoin history, the business model was to enable payments and store of value while keeping as much of the yields and fees as possible, as profit. USDT did it, Circle tried to do it, but now, Open Standard is trying to break this model. Some facts about Open Standard’s new OUSD stablecoin: - It offers zero fees on minting and burning and reserve yield is shared between participating partners. - It’s collectively governed by 140 firms across TradFi, crypto, fintech, big tech, and more. - The model isn’t “lets charge people to use it”. It’s “let’s create a free to use, 24/7 payments network and share the yield”. - It’s also regulatory compliant. This is a much more attractive offer for institutions adopting crypto. For one thing, most of those same institutions are already a part of the inner circle (@Visa, @Mastercard, @stripe, @MoneyGram, @BlackRock @BNYglobal, DBS, SMBC, @Google, and @Samsung are all founding members). And for another, if you are a firm looking to switch to a better payments network, wouldn’t you want to go with the cheaper option created by the companies you already “know and love”? The trust here is a big factor. Normal people trust banks. They don’t trust crypto. Additionally, OUSD already “feels” familiar. SWIFT, which has been around since 1973, originally had 239 banks supporting it, and follows a very similar governing structure to what Open Standard is trying to build. The advantage for OUSD is that it operates 24/7 and lives on a blockchain (ie. it’s easier to integrate into the fintech neobank you’re trying to build). And I think this is the key thing to understand here. Yes it will cut into Circle’s business, and is a direct competitor to stablecoins like USDC, PYUSD, RLUSD and others. However, OUSD has the highest potential so far to transition institutions away from traditional rails like SWIFT or ACH. It’s a free to use product, mechanically better than the old system, and has so many big names supporting it it's hard not to trust. Obviously, I’m talking mostly from an institutional lens here, and, taking a step back, it’s worth mentioning how the rest of us feel about it. From a crypto OG’s perspective (I’m talking about “the future of finance” and the “go bankless” crowd here), it’s heartbreaking. The writing has been on the wall for a while now, and it has been clear to anyone who’s watching that TradFi will try to build the same permissioned, KYC’d system they had before, but this time on blockchain rails. The idea of “not your keys, not your crypto” appears too idealistic and revolutionary for mass adoption, and I think early Bitcoiners have (already) lost hope about creating an independent financial system. Note: I would also consider myself of this mindset. I got into crypto back in 2021 on the basis that we were creating a new system of open global finance. But from an economic standpoint, the value is still very real. Sure we’re dealing with the same players, but money now moves across borders at a fraction of the cost and a fraction of the time. Margin risk from capital that’s locked outside of business hours is gone, and the velocity of money is now, way, wayyy up. The last point I want to make is that stablecoins we’re always going to end this way. It's the natural evolution of institutional adoption: First we had independent issuers (think Tether and Circle). These were general purpose and early attempts at new payments rails. Then we had purpose built stablecoins (think PYUSD and RLUSD). Built with institutions in mind. Then came stablecoins as a service (think @Bridge, @withAUSD, @m0). This was the first time institutions could build their own stablecoin. Then then institutions thought “why don’t we just own it ourselves?” OUSD Disclaimer: I’m continuously looking into everything stablecoin, payments, neobank, crypto card, or adjacent related. If you work for a company in the space, are curious to learn more, or just want to spitball some ideas, please send me a DM!

We just dropped our latest State of Stablecoins edition! Major updates included in this months newsletter: - MiCA ended it's transitional period, requiring all crypto service providers, exchanges, and stablecoin issuers to hold legal authorization, or stop serving EU clients. - @tether made a string of announcements that indicate a shift towards diversifying its business. Announcements include: an MOU with the Dubai Multi Commodities Centre to advance blockchain innovation and education, an investment into NEURA Robotics, and a partnership with @fasset to launch gold backed Visa cards. - FinCEN, along with the OCC and other regulators, proposed a rule that would implement the GENIUS Act's customer identification program (CIP) requirement for payment stablecoin issuers. - @openstandard launched Open USD on Solana. The stablecoin offers zero minting/redemption fees as well as a shared revenue model, and is attempting to compete with other regulated payments stablecoins like USDC and RLUSD. Check out the full newsletter below and consider subscribing at token-relations.com

@jonnytoshi Gonna read this on the beach today

Happy 4th of July everyone! Don't blow off your hand

Crypto cards aren't for you. They're for auto manufactures sending inventory abroad, steel traders paying suppliers, and corporate treasuries managing their capital. B2B stablecoin payments grew 733% in 2025 to $226 billion, and now account for 60% of real stablecoin transactions. Companies are finally coming around to the idea of adopting stablecoins, seeing their advantages over traditional networks like ACH and SWIFT, and realizing their cost saving benefits on small margin businesses. Teams like @RedotPay, @slashapp, @dakota_xyz, @koshmoney, and @reapglobal are all building products that serve the B2B payments demand. And they're printing money. On the consumer side, the majority of brands are targeting markets outside of the US and Europe to avoid the stiff competition posed by Chase, Amex, Captial One, etc, and hit users without existing access to strong banking infra. @Plasma, @lemonapp_ar, @KASTxyz, and @wallbit_app are all building for international users first. American's may never fully see the benefits of transacting in crypto, but for consumers in Argentina and Brazil, these cards are a no-brainer. At @StrataMedia_ we spent time diving into the world of crypto cards to find out what's really going on, who is using them, and where the value is actually accruing. Check out our analysis below and consider subscribing to our newsletter at token-relations.com.

What’s the deal with crypto cards? And who’s actually using them? @StrataMedia_ Institutional Research Analyst @ahBeaudry joins @jacqmelinek to dig into how crypto cards were meant for retail, but found a home with institutions and users in developing markets. TIMESTAMPS: 01:21 - What a crypto card actually is and how it works under the hood 03:04 - Why the developed market consumer card hasn't taken off — and may never 07:22 - Where the real value actually is: B2B and institutional usage 08:39 - The acquisition wave and why infrastructure is the real prize 11:46 - Onchain credit: what works and what's still broken 14:01 - What to watch over the next 6–24 months Watch below or on X:

how to launch your own neobank in 4 steps: 1. find a card issuer like: @raincards @Stablecoin @wirexapp 2. find a virtual ach account provider like: @dakota_xyz 3. find a yield provider like: @blend_money 4. find an on/off ramp provider like: @moonpay 5. wrap all these APIs in a nice consumer facing UI and go ham on distribution.

Consolidation incoming

TODAY: @Securitize begins trading on the NYSE under ticker $SECZ The platform is valued at $1.25B pre-money, raised $400M in gross proceeds and retained 71.5% of CEPT Trust

📊 Tokenized ETFs (SPY, QQQ, IVV) currently sit at $492M in value across all issuers. Six issuers hold more than $1M in value. 👇 1) @OndoFinance: $338M 2) @xStocksFi: $123.5M 3) @DinariGlobal: $16M 4) @RobinhoodApp: $9.3M 5) @ShiftRWA: $3.8M 6) @reserveprotocol: $1.1M

We just published the State of Tokenization for June!! Go give it a read 🤓

Join us on Monday, June 22, at 11AM EST for our quarterly @Ripple Ecosystem Webinar with @mikehiggins We'll be deep diving on Ripple Prime, where $RLUSD fits into the Prime strategy, and the business' broader institutional stack

This beautiful creation pops up on my tl every single day and it is truly a blessing every single time. Dog train can heal a broken heart.

@jacqmelinek @TokenRelations banger 2x

Our @TokenRelations analysts have been killing it with the charts lately New style, still backed by strong data and fresh insights. Hope you guys like it as much as I do :)

How it feels trying to find a novel use case for neobanks 🤯