Thesis 2025/2026 marks the moment when the global "monetary plumbing" shifted: stablecoins became regulated instruments (GENIUS Act, MiCA), payment messages changed their grammar (ISO 20022), and central banks entered pilot phases. Money is becoming a programmable object and the investment question moves from "which coin" to "which rail." Key Data • Stablecoins: 315 bn market…
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RWA & Tokenisation: the birth of a programmable fixed incomeasset class
Thesis Tokenized RWA has completed its transformation: from a speculative vehicle (NFT era 2021/2022), it has become…
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MiCA, ISO 20022, digital euro: Europe finishes the plumbing of programmable finance and the market looks elsewhere
Headline: While the spotlight remains fixed on the price of bitcoin, three…
ESG Data ServicesESG Taxonomy & sustainable finance: European simplification creates a data market
Thesis The European Omnibus package has simplified the taxonomy without diluting it:…
Traditional Banking is no longer a safe asset
The reference study on the cyber risk of crypto platforms put forward…
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