On the way to mainnet, so far: - ONCHAINID v3 audited by @OpenZeppelin. - @Chainlink CCIP as the preferred cross-network protocol. - Confidential transfers in development with @zama. - Apex Group committed to bringing $100B in tokenized assets to the Network by 2027.

About a quarter of all collateral sits idle, earning little or nothing. Much of it is a buffer against transfers that fail on manual processes. ERC-3643 moves the eligibility check into the security itself: before it transfers, it confirms the receiver may hold it.

Day 2, Digital Assets Week. 11:20 - What does it take to build the institutional stack for onchain finance. Daniel Coheur joined by Thodoris Karakostas (@chainlink), Ghazi Ben Amor (@zama) and Jonathan Alexander (@OpenZeppelin).

Good morning, Singapore. Opening Bell is open. A room of institutional, RWA and settlement people, seated and talking tokenization before Token2049 kicks off. Hosted by us with @ZenithFdn and @KaikoData. 📷

Day one at Digital Assets Week in London. T-REX is here for both days. Tomorrow at 11:20 Daniel Coheur, our CEO and co-founder, sits down with @chainlink, @zama and @OpenZeppelin. Come and chat to us, we are hard to miss!

Most tokenized assets can't move beyond where they're issued, because no other environment recognizes the holder. ONCHAINID v3 makes identity a smart account the holder carries, recognized wherever the asset goes. Co-developed with @TREX_network and audited by OpenZeppelin.

An asset can travel as far as its identity layer has been integrated, and no further. ONCHAINID v3 turns that identity into an account, so the holder carries their verified claims with them instead of each venue rebuilding the connection.

ONCHAINID v3 has been audited by @OpenZeppelin. An onchain identity used to prove that a holder was eligible for a regulated asset, and stop there. In v3 it holds the asset, signs for it and manages its own recovery. Full report below ↓

Shipping did not scale because ships got better. It scaled because everyone agreed on the size of a box. Tokenized issuance is at the same point. The pilots work. What decides the next decade is whether the market converges on one shape for the asset.

Issuing a security onchain is the start, not the finish. What follows is what the asset can do. Be pledged as collateral without leaving its rules behind. Be financed. Be serviced. Tokenization moves the asset. What it can do once it arrives is still being built.

Sibos, tomorrow at 14:30. From fragmentation to scale: industrialising tokenized asset issuance through standards. Euroclear, Clearstream, Swift, Apex. Daniel Coheur is on the panel, speaking for Apex. Issuance does not industrialise until the standards are settled.

Another big week for tokenization. The CLARITY Act failed in the Senate. Two days later the SEC opened a five year pathway for tokenized stocks anyway. We keep moving. We keep building. See you Monday.

Zenith joined DTC’s tokenization working group around ~$114T in securities. Kaiko just extended its Series B to $110M. Apex is targeting $100B in tokenized assets on T-REX. The teams working around these shifts - Zenith, @KaikoData and @trex_network - are getting together at @token2049 for the Opening Bell. A curated breakfast for institutional leaders and builders working across tokenization, settlement and digital markets. Request access: And all three teams have had a lot happening lately ↓

Tokenization Digest, Issue 09. The week the legislation stalled and the regulator moved anyway. 🔸 The CLARITY Act failed to advance in the Senate 🔸 Two days later the SEC issued an Innovation Exemption, letting qualifying venues trade tokenized stocks onchain. Effective immediately, for 5 years. 🔸 The exemption covers tokenized stocks carrying real shareholder rights rather than synthetic exposure. 🔸 HSBCS and Standard Chartered completed the first live tokenized deposit transaction over Swift. 🔸 The FDIC proposed parity rules so state chartered banks can take part in digital asset activities. 🔸 Hong Kong's policy address widened its tokenization agenda to gold, money market funds and commodity warehouse receipts. The week in one number: tokenized equities are roughly 0.004% of the US stock market. That is the runway the SEC just cleared.

Whitelisting a wallet is not compliance. One investor can hold ten wallets, and an address cannot tell you who is behind it. Daniel Coheur, CEO and co-founder of T-REX, on why investor caps and distribution rules cannot be enforced at the wallet level.