🚨 Uber unveils MMF yield strategy for operating cash flows w/ Canton Network 🚨 @Uber participated in a blockchain investment pilot involving @HSBC and @FTDA_US, buying a tokenized money market fund on Thursday and selling it on Sunday to earn an additional 1.5 days of yield. According to Odaily, the transaction used HSBC tokenized deposits and a public blockchain, allowing the investment and settlement to continue without selling assets before banks and markets closed on Friday. The pilot also involved @Tradeweb and @FireblocksHQ, with @CantonNetwork providing liquidity and settlement. Fireblocks CEO Michael Shaulov expects hundreds of large companies to adopt the model within the next 18 months. HSBC said the pilot demonstrated the technology’s feasibility and that the service is ready to be expanded to other clients. Now imagine if @Uber ran the same strategy with Franklin Templeton’s $BENJI as collateral but extended it by using an @aave V4/@Morpho instance, borrowing USDC, buying PPLUS on @pendle_fi with @Bitwise, using PPLUS to borrow USDC, and leveraged looping across all of DeFi’s most robust, stress tested protocols. This is what @ZenithFdn will enable with atomicity between Canton Mainnet and its native EVM. And yes, privacy pilots within the public, permissionless instance coming by Q2 2027. Zth.

The Universal Burn CIP is still in draft, but it has important implications. @bc1pxxx + @ShaulKfir just put out this CIP that unifies Canton MainNet’s economics. What it is: Today, Global Synchronizer traffic burns $CC and pays rewards. Dedicated synchronizers mostly sit outside that via license fees. This CIP makes every production synchronizer burn CC at the same list price ($60/MB ≈ $1 per typical ~16.7 KB transaction), extends app/validator rewards to all traffic, and makes dedicated synchronizers fully permissionless. It adds volume pricing + commitment discounts (backed by staked $CC) so high-throughput, low-value workloads can actually live here. Hard dollar numbers (not yet approved): → Volume curve on dedicated synchronizers: price halves every 10× sustained throughput: ≤1 TPS stays at list (~$1). 10 TPS → 50¢. 100 TPS → 25¢. 1,000 TPS → 12.5¢. → Commitment (1yr+, 20% collateral of annual fees): 50% off the volume price. Extra collateral up to 100% of a year’s spend stacks further (toward ~74% off volume price). Loyalty adds up to another 60% after four years. → Full stack example: a 10 TPS app drops from 50¢ gross to about 5¢ per transaction. Most of what’s burned is expected to come back as rewards (≥90%), so the net cost is substantially lower. → Why the curve exists: a flat $1 everywhere would make 1,000 TPS cost ~$31.5B/year. That prices real payment and trading volume off the network. Scale implications: The current split leaves high-volume dedicated capacity economically outside the @CantonNetwork $CC economy. Universal burn turns that into net-new burn. Volume + commitment pricing is what makes sustained institutional throughput (payments, trading, composed RWA flows) viable without forcing everything onto the Global Synchronizer or leaking value as licenses. Collateral commitments lock $CC and make future burn more forecastable. Dedicated capacity becomes additive rather than fragmenting. One network, one economy. The framework decision is the one that matters first. Numbers follow. Zth.

Without Vitalik I fear for the long-term consistency of Ethereum to uphold the same values. Vitalik exemplifies strong opinions loosely held, and is not hypnotized by money or grandeur. If and when another ruling class co-opts the network I am skeptical it can maintain the directional guidance Vitalik has set forth 5-10-15-20 years later. Look what happened to Siddhartha Gautama’s words. It all turned into fairy tales just decades after. Look at where some of the other Ethereum co-founders are and how they steered those ships. Vitalik is not the layman. We all know this. IMO this is how and why Ethereum is where it is now. On to another matter. Privacy is not real. Don’t be so easily fooled. When you’re given option A and B it’s to make you believe you have a say in the matter. Panopticon. Omnipresence. We’re nearly there. Palantir + Pegasus + Beamforming Feedback Information + Facial Recognition Technology… tip of the iceberg. "By way of deception you shall engage in war.” Mossad / Not-Mossad. Allegory of the cave. Just being frank. Smell the roses. Zth.

On October 6th, I am thankful to also be speaking at Merkle Science Meet: Token2049 Singapore. There’s a stellar crew on this panel: “Real-World Asset Tokenization: Compliance at the Intersection of TradFi and Blockchain” Ilya Brovin - CGO at @sumsub Sheena Lim - CEO at @1Xexchange Jenna Peterson - COO at @MidnightNtwrk Arthur Breitman - Co-Founder at @tezos Heslin Kim - Co-Founder CBO at @ZenithFdn Yan Ma - Executive Director at @TheSpartanGroup Moderated by Mark Tang - VP Client Solution at Hydra X. I’m scheduled to speak from 3:55 – 4:35pm! See you all there. Zth.

It’s great to see deserving people and projects get rewarded Zcash

Excited to be back in Seoul for @KBWOfficial / #KBW2026 hosted by @UpBitGlobal this year. I helped @FACTBLOCK kick off the first KBW almost a decade ago. Watching it grow from a large room of trenchers into Asia’s institutional week for digital assets has been one of the more meaningful arcs in this industry. Same story for Korea itself. The market used to be retail energy and narrative. Now it’s banks, asset managers, telcos, policymakers, and global institutions talking stablecoins, tokenization, and onchain rails as real market infrastructure. Looking forward to the main week, and especially to sitting in the invite-only private roundtables of EastPoint: Seoul 2026, hosted by @hashed_official. That’s the room where this next phase actually gets worked out. See you in Seoul. Zth.

Humbled to share that Zenith has joined @The_DTCC’s Industry Working Group. DTCC sits behind roughly $114 trillion in U.S. securities. More than 100 firms (BlackRock, J.P. Morgan, Goldman Sachs, Citi, Nasdaq, NYSE, Digital Asset, and others) are now helping design how equities, ETFs, and Treasuries move on-chain. The first live production trades already settled in July. Full launch is targeted for October on @CantonNetwork. This is the core of U.S. market infrastructure choosing a clear path. I am grateful we get to contribute. The gap we see is simple: Institutions have chosen Canton, and innovation in this sector has been driven thanks to networks like Ethereum and Solana. @ZenithFdn exists to close that gap. For instance, ComposerX pairs Besu (EVM) for private needs with Canton for institutional interoperability. DTCC and Digital Asset argue tokenization can improve collateral mobility and balance-sheet efficiency against a ~$300 trillion HQLA backdrop, of which only ~10–11% is mobilized today. On the other side of the world, Zenith is also in Progmat’s JGB / on-chain repo group aiming to tokenize nearly $1.6T in Japan across EVM and Canton. It’s clear that institutions want the compliant, private rails of Canton and the 1. developer stack, 2. DeFi ecosystem, and 3. liquidity of Ethereum, at the same time, and at U.S. securities-market scale. We will bring that experience to interoperability standards and cross-chain settlement design by mitigating existing risk laden architecture with atomically composable environments. If even a fraction of what this group builds helps institutions move collateral in real time, cut counterparty risk, and connect traditional rails to digital ones all across any blockchain they choose to do so, that is work worth doing. Hoping our contributions help shape it in any and all ways possible. Zth.

As I fill out some exchange listing forms, I figured I'd bring some of the information over to X. Who are the target audience/users of the product? Primary users: • Institutions with EVM dependencies whose apps, custody, tokenization, or internal ledgers already assume Solidity, JSON-RPC, Ethereum account models, or EVM wallets. • Institutions on Hyperledger Besu / Quorum-style stacks that want to keep an Ethereum client and permissioning model, but compose with Canton RWAs instead of running a disconnected private chain. • Issuers and platforms using ERC RWA / security-token standards (ERC-1400, ERC-3643 (T-REX), ERC-1404, CMTAT, DS Protocol, and similar allowlist/transfer-restriction stacks) that need those contracts to settle against Canton-native assets. • Ethereum / Solidity teams who want to deploy existing DeFi apps (lending, perps, DEX, vaults) on Canton without rewriting in DAML. • Solana / SVM teams (upcoming) with the same goal once Zenith SVM is live. • Institutions on Canton (banks, market infrastructure, asset managers, repo/treasury desks) that want to compose with EVM/SVM based DeFi. • Consortium / enterprise operators who want a custom Zenith Stack chain (public, permissioned, private) instead of running their own infrastructure. Secondary users: • Canton-native participants (party-ID users, DAML apps) who need to interact with ERC-20 / EVM apps atomically. • DeFi protocols and market makers that want Canton RWAs (Treasuries, repo claims, deposits, stablecoin cash legs) as collateral, margin, or inventory. • Developers and integrators building wallets, oracles, and settlement venues across Canton and EVM. Zth.

$KII is putting stablecoins into a 24/7 on-chain FX loop. The numbers the team dropped are interesting: → $600M+ cumulative volume → 20+ B2B2C enterprise clients → 360k+ users, growing ~10% month over month$KII isn’t just another on-chain story. Stablecoin × FX × Payments × real operating businesses. 0xEEC6574eAbBa52bac3f0277F2cD5Ac7e67197886

Over the next few months, our @ZenithFdn team will travel across four continents, and we're hosting at two of those stops. @kbwofficial in Seoul and @TOKEN2049 in Singapore are where we're investing the most energy this autumn, bringing together TradFi and DeFi partners in the kind of setting where real conversations happen. Here's what we have planned: Seoul: Korean Blockchain Week September 29, 17:30-21:30 Invite-only dinner, co-hosted with @redstone_defi and @Figure. An intimate seated evening built for the conversations that don't fit a conference agenda. If you are working at the intersection of institutional finance and digital assets and want to be in the room, reach out directly. Details: https://t.co/dfB3OndcTl September 30 I’ll be speaking at the RealFi x Asia Stablecoin Conference in Seoul. Check info: https://t.co/LCNsKCLAK3 October 1, 11:00-14:00 The Seoul Table, an institutional lunch at Conrad Seoul, co-hosted with @KaikoData, @utila_io, and HappyBlock. Meet the teams behind institutional digital asset adoption alongside banks, funds, and capital market participants working through the same questions. RSVP: https://t.co/Rz6Ay8Yzar Singapore: TOKEN2049 Week October 7, 9:00-12:00 Opening Bell, an institutional breakfast co-hosted with @trex_network and Kaiko. 10 minutes from Marina Bay Sands and timed to kick off your TOKEN2049 day. Relaxed setting, high-quality conversations, and the right people in the room. Quality breakfast on us, RSVP: https://t.co/nl8b4Ew4J5 While in Singapore, I’m on stage four times across the week, catch me at:  - TokenizeThis 2026 by RedStone on October 6: https://t.co/EdO0hGocyp - Blockworks Digital Asset Summit on October 7: https://t.co/xucpJk1nRf  - Agentic Finance by More & More on October 8: https://t.co/wvWprE8kvz - HSC Asset Management Conference Singapore on October 8: https://t.co/Z8yxM9CbqT  - RWA SUMMIT on October 9 as part of RWA WEEK: https://t.co/QVhw1beWve Beyond Seoul and Singapore, autumn also takes us to New York for the Canton Summit on September 15, Germany the same week for CONF3RENCE with @NorbertVadas, and Rome in November for AIBC World for myself. If you're going to be at any of these, we'd like to meet you, reach out ahead or find us on the ground. Zth.