Don Wilson(@drwconvexity):Tokenised repo only works if the “cash” leg is truly cash-equivalent. Some thoughts on how proposed US stablecoin rules could impact that, and why transparency in reserves will be critical for market confidence. Thank you to @ISDA for hosting an important conversation on how proposed stablecoin rules could shape liquidity and market structure.

Don Wilson

@drwconvexity

CEO and Founder of @DRWTrading and @CumberlandSays

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Don Wilson@drwconvexity

2026.05.01 00:49

Tokenised repo only works if the “cash” leg is truly cash-equivalent. Some thoughts on how proposed US stablecoin rules could impact that, and why transparency in reserves will be critical for market confidence. Thank you to @ISDA for hosting an important conversation on how proposed stablecoin rules could shape liquidity and market structure.