The race for tokenized money utility
Plus: markets and chips, what does the BIS actually do, and more
“If the wind will not serve, take to the oars.” – Latin proverb ||
Hello everyone! I hope you’re all doing well. I went for a long walk this morning, before the heat and the traffic set in – even if you don’t have the luxury of blue skies and green leaves, it sure works for decluttering crowded minds and recovering some perspective, a strong recommend.
PUBLISHED IN PARTNERSHIP WITH: ✨ ALLIUM ✨
Tokenized equities hit ~$1B in supply since launching in mid 2025. The market structure is more interesting than the milestone.
Allium’s latest research covers where liquidity actually lives, how tokenized prices compare to traditional equities, overnight price discovery, and why ~90% of volume is outside the US.
For fintech platforms, exchanges, institutional investors, and builders evaluating the tokenized equities opportunity.
→ Read the report: https://www.allium.so/reports/allium-tokenized-equities-report-q1-2026
IN THIS NEWSLETTER
The race for tokenized money utility
Markets: chips ahoy
Term of the day: BIS
Crypto is Macro Now offers ~daily commentary and updates on the overlap between the crypto and macro landscapes. Plus links and more.
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WHAT I’M WATCHING:
The race for tokenized money utility
With Schrodinger’s War stretching out in the Gulf (apparently renewed attacks don’t invalidate a ceasefire, who knew) and chip stock valuations reaching areas with thin oxygen (see below), it’s comforting to descend into the bowels of financial plumbing and look at the accelerating drumbeat of moves to upgrade the crusty pipes. This isn’t just about payment formats; it’s about what money even is.
