For much of the cloud era, infrastructure location was treated as an implementation detail. That assumption is becoming harder to sustain in financial services. Regulators are extending their scrutiny beyond banks and financial-market operators to the technology providers beneath them. Concentration risk, jurisdictional exposure, operational autonomy and the ability to recover from disruption are now being examined as financial-stability questions. This has a direct consequence for onchain finance. As distributed networks begin supporting payments, tokenised assets and settlement workflows, institutions will need considerably more certainty about the environments beneath those systems: where the infrastructure operates, which laws govern the data, who controls administrative access, how upgrades are managed and what happens when a provider becomes unavailable. Financial infrastructure has always been shaped by jurisdiction. Its digital form will be no different. The market is therefore likely to develop through a combination of regional infrastructure, institution-controlled environments and shared financial networks. These systems will serve different regulatory and commercial purposes, and many will need to operate alongside public infrastructure rather than replace it. Location, governance and operational control are moving into the architecture itself. For the next generation of financial systems, where infrastructure runs will be inseparable from what the infrastructure is permitted to do.