prime brokerage
Prime Brokerage for Digital Assets Explained
Prime brokerage for digital assets bundles execution, custody, financing, and settlement into one relationship. Here is how it works and what remains unresolved onchain.
Explainers
Explainers
Kalshi Historical Data: A Practical Guide
What Kalshi historical data includes, how to pull it, and how traders and researchers use event contract records to backtest and study probability.
tokenized securities
15c3-3 for Tokenized Securities: A Clear Guide
SEC Rule 15c3-3 requires broker-dealers to segregate and control customer securities. Here is what possession and control mean when the security is a token on a blockchain.
RWAs
What Are Real World Assets (RWAs)? A Clear Guide
Real world assets, or RWAs, are traditional financial assets like Treasuries, gold, and credit issued as tokens on public blockchains. Here is how they work and why the market crossed $30 billion.
stablecoins
What Is PYUSD Stablecoin? A Clear Guide
PYUSD is a fiat-backed dollar stablecoin issued by Paxos and branded by PayPal. Here is how it works, where it circulates onchain, and why it matters.
tokenization
Dematerialization vs Tokenization: A Clear Guide
Dematerialization turned paper stock certificates into electronic book-entry records held at a central depository. Tokenization moves ownership records onto public blockchains. This guide explains what each one actually does and why the difference matters.
tokenized securities
Transfer Agent for Tokenized Securities Explained
A transfer agent keeps the official record of who owns a security. Here is what that function does in traditional markets, and what it looks like when the security is a token on a blockchain.
RWA
What Is RWA Tokenization? A Definitive Guide
Real-world asset tokenization moves Treasuries, commodities, private credit, and more onto blockchains. Here is how it works and why institutions are moving fast.
tokenized securities
Atomic Settlement for Tokenized Securities Explained
Atomic settlement lets a tokenized security and its payment change hands in a single, indivisible transaction. Here is how it compares to T+1, what breaks, and what is still being built.
stablecoins
What Is USDS Stablecoin? A Clear Guide to Sky's Token
USDS is the dollar-pegged stablecoin issued by Sky (formerly MakerDAO). Here is how it works, where it circulates, and why it matters.
digital asset identifiers
Why Wallet Addresses Aren't Enough to Identify Tokens
A wallet address tells you where value sits, not what the value is. Here is why identifying a token takes more than an address, and what standards are emerging to fix it.
tokenized securities
Central Securities Depository for Tokenized Securities
A plain-English guide to how a central securities depository works in traditional finance, and what its onchain equivalent looks like for tokenized securities.