How real yield is transforming DeFi and financial autonomy

Australia was once an early adopter in financial innovation. Now, its own regulator says it’s falling behind. In a landmark speech, ASIC Chair Joe Longo warned that Australia must “seize the opportunity or be left behind” as tokenisation reshapes capital markets globally. The message was clear: the world is tokenising faster than we’re regulating. Longo called tokenisation the next phase of market evolution — capable of breaking assets into smaller, tradeable units and enabling instant settlement. The numbers speak for themselves: Switzerland’s digital exchange has surpassed $3.1B in tokenised bond issuances since 2021. J.P. Morgan plans to fully tokenise its money market funds within two years. Nasdaq aims to launch 24-hour tokenised securities trading by late 2026. Meanwhile, Australia risks becoming, in Longo’s words, “the land of missed opportunity.” Once known for pioneering electronic trading systems, Australia’s market leadership is now under pressure. While other nations integrated tokenised bonds, funds, and securities into their capital markets, Australia’s regulatory framework remains slow to adapt. That’s about to change. Longo announced that ASIC will review and relaunch its Innovation Hub — designed to open communication between regulators and innovators, supporting fintech growth rather than blocking it. The plan: An open-door policy for startups facing licensing or compliance hurdles. Collaboration with Treasury’s proposed crypto exchange licensing law. Alignment with ASIC’s new digital asset guidance, classifying stablecoins, wrapped tokens, and tokenised securities as regulated financial products (transition period until June 2026). It’s the beginning of a new phase — not of deregulation, but of regulated acceleration. Here are the BD takeaways for Web3 teams: - ASIC’s direction means tokenised funds and digital securities will soon need full compliance infrastructure. Teams who prepare early will become the default partners for institutions. - The new Innovation Hub is an open door — BD leaders should engage now, offering input and pilot proposals to shape Australia’s tokenisation framework. - Learn from Switzerland’s bond pilots, J.P. Morgan’s tokenized MMFs, and Nasdaq’s 24/7 trading push. Success in Australia will come from adapting those playbooks to local regulation. - Every asset class — bonds, funds, commodities — is being rebuilt as data. BD teams need to reframe products around on-chain liquidity, compliance, and interoperability. Australia’s financial future now hinges on whether it can match innovation with regulation. The world isn’t waiting — and the infrastructure for tokenised markets is already being built elsewhere. This isn’t about catching up to crypto. It’s about catching up to the future of finance. Will Australia reclaim its leadership in market innovation — or will tokenisation become another opportunity it watches from the sidelines?

Institutional finance just entered a market that never sleeps. Sounds great - unless your treasury can’t handle it. ⤵ Most institutional treasuries were built for... ...9-to-5 markets, ...quarterly forecasts, ...and manual intervention. Today, Institutional Capital Markets are merging with Internet Capital Markets. It’s happening: capital flows across DeFi protocols, public chains, custodians, and tokenized RWAs - in real time. This shift isn’t gradual. It’s structural. And it demands a Smart Treasury that doesn’t just track - it has to predict. I just spoke at the GMS about how we can apply predictive intelligence and gain a competitive edge. In areas from Marketing to Finance. Because it isn't disruption if you are ready for it: 1/ ➠ Institutions Are Going Onchain - But Their Tools Are Still Offline Legacy systems were designed for downtime. The Internet of Finance doesn’t have one. ➝ Solana moves at 400ms ➝ Institutions still wait days ➝ Old systems close at 5pm ↳ New markets never close If your treasury is sleeping, your capital is missing out. 2/ ➠ Onchain Finance Isn’t Just “Faster” - It’s Fundamentally Different This isn’t just about speed - it’s about structure. ➝ Yield vanishes in seconds ➝ Liquidity jumps chains ➝ Risk hides in smart contracts ↳ There’s no time to “analyze and act” You need systems that move before the market does. 3/ ➠ The Missing Piece? Predictive Treasury Intelligence Being reactive isn’t enough. Anticipation is the new advantage. ➝ You can’t wait to see a problem ➝ You need to know before it happens ➝ AI doesn’t replace humans — it moves faster ↳ TRUSTBYTES predicts where your money’s needed next Prediction isn’t luxury - it’s infrastructure. 4/ ➠ When Capital Markets Converge, There’s No Going Back We’re not adapting to onchain finance. We’re merging with it. ➝ Tokenized assets are now institutional-grade ➝ Compliance is programmable ➝ RWAs move through DeFi rails ↳ Treasury must be your control center, not your bottleneck The old playbook can’t run in this new arena. This isn’t about being innovative. It’s about staying operational in a world where capital moves 24/7, compliance runs on code, yield lives on-chain. Smart Treasury is becoming the minimum requirement for survival in the new market structure. Follow TRUSTBYTES (Techstars '25) as we are building exactly that. At this year's GMS, I was honored to speak alongside fellow thought leaders and speakers incl. Philip Kotler, Bryan Eisenberg, Cris Beswick, Nicole Alexander, Mark Hamilton Eckhardt, Jon H., Kelly McConville, Svend Hollensen, Ben Keene, Athena Peppes, Valentino Brodkorb, Funs Jacobs, Katie McPhee and many more. Thanks to Seda, Aycan, Ceren, Eyup and the whole team of Global Marketing Summit & Exhibition for having me. // Repost this ⇄ // Source: TRUSTBYTES Smart Treasury / at GMS Istanbul, Oct. 2025 // Follow me for daily posts on emerging tech and growth: https://lnkd.in/gqzS_9Tf //

Honoured to be featured in Entrepreneur Media discussing what it will truly take to bridge DeFi and traditional finance. The narrative is shifting, and it must. For years, regulation was viewed as a threat to decentralization. Today, it’s increasingly clear that regulatory clarity and shared compliance standards are prerequisites for institutional trust. Innovation is essential. But innovation without structure risks undermining confidence, and progress. To unlock real adoption, our industry needs to: ✅ Embrace compliance as a core principle ✅ Build systems that uphold institutional trust ✅ Work together on shared standards ✅ Prioritize long-term resilience over short-term speed The bridge between DeFi and TradFi is being built, but it will only be completed through collaboration, transparency, and intent. I welcome your thoughts and look forward to continuing this conversation. Read the full piece here: https://hubs.la/Q03QWtkl0

Decentralized Finance is moving from the sidelines to the center of finance. Institutions are starting to use it to fix long-standing problems: slow transactions, opaque processes, and assets that are hard to trade. The main tool is tokenization. By turning real-world assets into digital tokens, trades can happen instantly, collateral can be used more flexibly, and markets can operate around the clock. DeFi makes finance faster, more transparent, and more efficient. The impact has global implications. These same tools could help people in developing countries access financial services more easily, unlocking opportunities for entrepreneurship, savings, and cross-border commerce. DeFi is technology amplifying inclusion while making finance smarter, faster, and more transparent.

Global finance is at an inflection point. Here are 5 insights from Paxos CEO Charles Cascarilla on the next generation of tokenization and stablecoin policy: During IMF–WEF week, Charles spoke at the Atlantic Council alongside MAS Managing Director Chia Der Jiun on how regulation, innovation, and adoption are shaping the next phase of digital finance. 1️⃣ Tokenization is past the pilot stage Tokenization is no longer theoretical. Leading asset managers and financial institutions are launching real, production-grade products. The focus has moved from experimentation to execution, and there is growing consensus that tokenization will underpin the modernization of capital markets. 2️⃣ Regulation is driving institutional confidence Across jurisdictions, regulatory clarity is accelerating scale. Frameworks like MAS’s stablecoin rules, the EU’s MiCA regulation, and the U.S. GENIUS Act are aligning around shared principles: ❏ Full reserve backing ❏ Segregation of client assets ❏ Redemption at par value This consistency is giving institutions the trust and structure needed to participate confidently. 3️⃣ Global reciprocity is becoming possible Equivalency between trusted jurisdictions is within reach. Harmonized frameworks will allow compliant stablecoins to operate globally while maintaining oversight. The outcome is an interoperable network of stablecoins that move freely through regulated markets. 4️⃣ Stablecoins can reinforce monetary systems Well-regulated stablecoins can strengthen, not weaken, sovereign currencies. Transparent and fully backed digital dollars can expand inclusion, reduce costs, and improve visibility across the financial system. They offer policymakers more control and insight than unregulated alternatives. 5️⃣ The next wave will be infrastructure-led The next phase of tokenization will be powered by infrastructure. Institutions are seeking 24/7 settlement, programmable assets, and real-time liquidity, and the firms building regulated, enterprise-grade infrastructure will define how global finance evolves. Paxos is building that foundation. A trusted, regulated platform for tokenization and stablecoins, powering the shift toward a more open, compliant, and programmable financial system.

European Systemic Risk Board - Crypto-assets and DeFi (Decentralised Finance) 1️⃣ Financial Stability Meets Decentralisation - The ESRB’s 2025 report highlights how DeFi is no longer niche — it’s now part of the broader financial system. Stablecoins and DeFi lending are key bridges between traditional and decentralised finance. 2️⃣ Regulation is Catching Up - Europe’s Markets in Crypto-Assets Regulation (MiCAR) is now live, requiring issuers and DeFi service providers to be fully authorised. This brings clarity, investor protection, and a safer path for institutional adoption. 3️⃣ Stablecoins Are the New Rails - USD-backed stablecoins still dominate (99% of global supply), but euro-denominated options are growing fast — from Circle’s EURC to Société Générale’s EURCV. These tokens are now seen as the fuel for regulated DeFi lending and tokenisation. 4️⃣ DeFi = Efficiency + Transparency - Protocols like Aave are proving that you can combine programmability and open access with full regulatory compliance. Horizon — Aave’s institutional liquidity platform — shows how DeFi can serve banks, funds, and corporates with 24/7 liquidity and on-chain transparency. 5️⃣ Multi-Function Groups Are Emerging - The ESRB defines “multi-function groups” as ecosystems that issue, trade, and custody assets under one roof — a model that could become the foundation of future financial infrastructure if supervised properly. Real Life Example Aave Horizon now enables institutional players like asset managers and regulated issuers to supply tokenised money market funds and stablecoins into DeFi markets — unlocking yield, liquidity, and efficiency, all within a compliant EU framework. Why It Matters Europe is carving out its own path — not by copying the US, but by embedding DeFi into its financial stability framework. This gives the EU a strategic opportunity: to lead in regulated innovation and strengthen the euro’s role in digital finance. What Happens Next Expect to see: - More MiCAR-licensed stablecoins (including GBP and CHF versions). - Banks experimenting with tokenised deposits. - A growing pipeline of institutional DeFi pilots under Aave Horizon and similar platforms and Horizon, the institutional liquidity platform to hit $1billion - The convergence of DeFi and TradFi is no longer theoretical — it’s happening in Europe, under supervision, and on-chain. Great work Steffen Kern and team

Clearstream D7 just went live in Luxembourg. Tokenised issuance is now possible for everyone. For years, Luxembourg has built its reputation as a trusted financial centre. Now, we see the next step: tokenisation in mainstream finance, not theory-production. Here is what has changed in the last two weeks: - Multi-currency digital bonds have settled in tokenised central-bank money. This reduces settlement risk at the highest level. - IOSCO issued new guidance. Standards are set for legal certainty, custody, and key management. - Clearstream D7 now supports tokenised commercial paper and MTNs-directly through international-grade infrastructure. What does this mean? - Faster issuance for commercial paper and MTNs. Treasurers get liquidity with fewer barriers. - Money-market funds can update registers quickly. Checks and audits become simpler. - The UK is writing rules for tokenised fund registers. Luxembourg has a clear example for fund innovation. More support is now local. Deloitte Luxembourg launched a Digital Asset Accelerator Centre - Thomas Campione, CFA - Financial institutions have a trusted partner for building tokenisation projects. The regulations are clear. For leaders in finance, operations, and legal in Luxembourg, the message is simple: The framework is set. The technology is active. Build partners are ready. Tokenised finance is now in reach for all institutions-not in the future, but today. How do you see tokenisation changing Luxembourg’s financial sector? Mathieu Cottin Patrick Hennes Brice Vandevoorde Angel Luis Salas Peso Tobias Seidl Catherine Gotti Petra Krizan Laszlo Muranyi Dr., MBA Tommaso Cervellati, MBA, CAIA Christian Stricker Francis Jacquemain Algimantas Taujanskas Giovanni Campodall'Orto Natalia Galkina Geethika Loku Kodikara Arachchige Stipe S. Aymeric Mechelany Anetta Proskurovska

Last week was super slow with the government shutdown continued so I apologize to all of my avid followers about the lapse. We’re back at it this week with another series of top RWA news, and finally we have some things worth discussing! 1) IOSCO publishes final report on tokenization of financial assets What happened: IOSCO (The International Organization of Securities Commissions) has published a comprehensive report on financial‑asset tokenization, highlighting both opportunities and emerging risks (legal, operational, cyber, etc ) in tokenizing traditional assets. Why it matters: Regulatory frameworks are (finally) catching up. For the RWA world this means maturity: tokenizing real‑world assets means dealing with real world rules. Compliance and risk management are rising to front‑and‑center - no more poorly explained Fugazi assets being passed off as good opportunities to onchain investors. Having standardized definitions, rules, and structures are critical elements of a developed market and it’s impossible for RWAs (and crypto in general) to accomplish much without them! https://lnkd.in/gVYH5rtw 2) Datavault AI Inc. engages with global governments & corporates to tokenise real‑world assets What happened: Datavault AI announced that it is negotiating contracts with multiple governments and corporations to tokenize RWAs, and updated its 2025 revenue guidance significantly upward (from US$2.7 m in 2024 to US$30‑60 m in 2025). Why it matters: The signal here is that they increased their revenue projections an insane amount, 10-20x, demonstrating a theoretically real path to revenues beyond a few dollars here and there. Time will tell if these revenues are repeatable and/or scalable, but it’s a good start! 3) Mantle, Backed Finance & Bybit collaborate to bring tokenised U.S. equities on‑chain via “xStocks” What happened: Mantle’s layer‑2 network, in partnership with Backed Finance and Bybit, announced tokenised U.S. equities (NVDAx, AAPLx, MSTRx) on‑chain via the xStocks product — bridging TradFi equities with on‑chain rails. Why it matters: This is a major convergence of traditional capital markets (U.S. equities) with on‑chain tokenization infrastructure. Although the legality is (as far as I can tell) murky, at some point the regulators have to respond to what the market wants. The market clearly wants tokenized stocks, with multiple entities attempting to build this lucrative solution. Here's hoping that the government shutdown ends shortly - Polymarket has it at 97% chance it'll end before the week finishes.

We’re tokenizing global finance, and our Strategic Blueprint defines how. Our mission: → Broaden access to tokenized RWAs across global markets → Expand $USDO utility → Deepen DeFi and institutional integrations Full details on OpenEden's Blueprint below👇🏻 🟣USDO, a regulated, yield-bearing stablecoin, earns holders yield automatically through its rebasing mechanism. Soon, USDO is intending to expand into global consumer platforms by embedding in popular applications serving hundreds of millions of users, connecting on-chain yield with everyday digital finance. 🟣Combining institutional trust with on-chain efficiency is key to institutional adoption. Leveraging our strong credibility and compliance for institutional adoption, we are collaborating with a major global asset manager to introduce a tokenized fund offering exposure to Short-Duration Global High-Yield Bonds. 🟣The next frontier of yield isn’t about speculation; it’s about sustainability. We’re developing a delta-neutral yield product with a licensed digital asset fund manager. The product will blend strategies like cash-and-carry arbitrage, overcollateralized lending, and Treasury-backed assets to offer risk-managed, delta-neutral yield. 🟣 Structured products have long been limited to private banks and institutions, and they are opaque, exclusive, and slow to settle. We’re working hard to bring these instruments on-chain, allowing users to access principal-protected and yield-enhanced products directly through DeFi rails. 🟣 The future of stablecoins is multi-currency. To reflect the real liquidity needs of global markets, we’re working with strategic partners to introduce regionally backed stablecoins collateralized by sovereign short-term securities from key Asian markets, starting with an Asia-region stablecoin. 🟣 Stablecoins aren’t just about stability; they’re also about utility. We’re building a global payment network through a strategic collaboration with a regulated fintech. The cross-border settlement network will power instant, yield-bearing payments for remittances, merchant transactions, and institutional settlements. This is how we’re tokenizing global finance, by creating a compliant, composable infrastructure that empowers anyone to build, integrate, and scale real-world asset products with institutional-grade trust. Read the full details here: https://lnkd.in/gJUP-QJG Disclaimer: “OpenEden” is the umbrella name for the OpenEden Group, whose entities include different entities licensed and/or regulated in different jurisdictions. USDO and TBILL are issued by Treasury Bills Institutional Liquidity Limited and OpenEden Digital, incorporated and regulated in the BVI and Bermuda respectively. USDO and TBILL are subject to eligibility requirements found in their respective T&Cs on https://openeden.com/