People are saying DTCC just put $114T on-chain. What went live is 25 securities available to tokenize. About $30T of assets available to be tokenized. Official books and records stay with DTC. Treasury still pays in fiat. Not “DTCC buying crypto.” Same CUSIPs. One-to-one entitlements. Twenty participants already on JPM, Citi, BofA, Morgan Stanley, Citadel Securities, Fidelity, State Street, UBS.

NEW: Sergey Nazarov explained to us his vision for the future of tokenized financial products onchain. In this example, he points to funds that update their NAV every minute, and says improvements like that can "induce the clients of the institutions" to ask for tokenized versions of what they already hold. He says the big signal is when clients of asset managers are pushing to go onchain, not the other way around. Tokenization supercycle is in full swing. Sergey mode. $LINK @SergeyNazarov @therollupco

Yesterday’s Link:NYC was something special. DTCC. Swift. BlackRock. Fidelity. Bank of America all of the biggest names in global finance and capital markets came together to discuss the future of onchain markets. The new global financial system is taking shape, and Chainlink is at the center of it.

Financial innovation is not simply about introducing new ideas but about building the mechanisms that allow those ideas to work together in a sustainable way This is one of the interesting things I see in @onrefinance because it is bringing reinsurance infrastructure into the onchain economy and connecting traditional financial models with blockchain based markets Reinsurance has been an important part of the global financial system for decades but most of its opportunities have remained within traditional financial structures By bringing this infrastructure onchain @onrefinance is exploring how real world insurance capital can become more accessible and usable across DeFi What makes this approach interesting is that the focus is not just on creating another yield opportunity but on connecting real financial activity with onchain liquidity transparency and composability For me the bigger picture is how blockchain can expand access to financial systems that already serve a real purpose in the traditional economy

Nearly $5.7T in SME financing demand remains unmet across emerging markets. @ZIGFinance is already directing funds into that gap through ZIG Markets-curated vaults on @Valdora_finance, financing businesses across the UAE, Saudi Arabia, and Oman. The strategy is simple: deploy more capital → generate more revenue → increase capacity for ethereum:0xb2617246d0c6c0087f18703d576831899ca94f01 buybacks.

DTCC OFFICIALLY TOKENIZES SECURITIES: IS THE RWA MARKET ENTERING A NEW PHASE? On October 28, DTCC, the largest U.S. operator of securities custody, clearing, and settlement infrastructure, announced the live deployment of its securities tokenization service on the Canton Network @CantonNetwork and its proprietary blockchain. - This is a significant development for the Real World Assets (RWA) sector, as one of the most important institutions in traditional finance begins integrating custodied securities into blockchain-based processes. 1. What is the current size of the RWA market? According to data from @RWA_xyz on October 29, 2026: - $146 billion: Value of tokenized U.S. Treasury bonds and related funds, nearly flat over 30 days (-0.06%). - $37.4 billion: Value of tokenized stocks and ETFs, up 14.69% over 30 days. - $101.4 billion: Value of token transfers within the stock segment over 30 days, down 87.16% compared to the prior period. 2. What is DTCC bringing onto the blockchain? - DTCC is starting with 34 eligible securities, representing approximately $30 trillion in custodied assets. - Through DTC, participating institutions can convert ownership rights of custodied securities into blockchain-based tokens and revert them back to traditional ledger systems when needed. - Tokens are fully backed 1:1 by underlying securities and maintain corresponding rights as defined by the service’s mechanics. 3. The most notable feature: 24/7 asset transfer capability - DTCC’s service enables 24/7 token transfers between registered wallets within the same network. Twenty institutions have signed agreements for access, including JPMorgan, Citi, Fidelity, and Morgan Stanley. => The participation of major financial institutions could lay the foundation for deeper integration of tokenized securities into asset management, payment systems, and operational workflows of financial institutions.

What if you could hold a stock only while the market is closed, without buying and selling every day? That's the idea behind Isolated Exposure Tokens (IETs), proposed by @0xbeans and The @standard_rsv. Deposit one tokenized share and receive: • OVERNIGHT: exposure from the close to the next open. • SESSION: exposure from the open to the close. Hold both and redeem for one share. Sell one to keep only the exposure you want. Each series has an expiry; exiting one side earlier requires a buyer. A simple example: • A $100 share starts with $50 allocated to each token. • It opens at $110: OVERNIGHT rises to $60. • It closes at $105: SESSION falls to $45. • Together, they're worth $105 at the accounting level. Why it's interesting and why we're at @paboxoxyz also loves it as it align with our off-market lending features. • Could support overnight-only vaults and targeted hedges. • Splits exposure without requiring the issuer to trade the underlying every day. • Gives DeFi another building block, similar in structure to Pendle's split claims. But something that still needs some works and detailed explanations: • Each token starts with roughly 2× exposure at its initial accounting value. • Balances accumulate dollar moves, so they don't reproduce the compounded returns. • Expected overnight gains can already be priced into the token. • Overnight exposure existed before through NightShares ETFs. The vault can't pay $110 if the losing holder owes nothing. Caps, early termination or extra capital could help, but the supplied paper doesn't specify a rule. Promising concept. It needs clear loss rules, reliable price feeds and affordable liquidity before the historical overnight anomaly becomes a new primitive.

Sergey Nazarov, co-founder of Chainlink, says the blockchain world grew up in "their own bubble universe of financial products." In that universe, everything is global by default. Bitcoin was accessible globally from the day it began. Traditional finance never worked like that. Japan's market is predominantly Japanese holders, Europe is sometimes split by country, and many international buyers can't get into US markets. @SergeyNazarov @chainlink

Tom Pikett says collateral is moving from “just in case” to “just in time,” and the assets sitting idle in between can start earning. “Particularly for collateral, they operate on a just-in-case basis.” “What we’re talking about is being able to deliver these on a just-in-time basis.” “Those assets that were sat there as a just-in-case, they can now be productive.” “They can now use those for other things and generate revenue.” @The_DTCC

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