Library

Past Editions - Weekly and Deep Dive Releases

crypto

Your Stablecoin Earns Interest. Who's Pocketing It?

Oct 4, 2026

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5 min read

Your Stablecoin Earns Interest. Who's Pocketing It?

The yield ban can protect cheap bank funding. A wider rewards ban could also leave more interest with issuers and exchanges.

James Smith

Deep Dive

Sep 28, 2026

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17 min read

Telcos Are Trying to Become Banks Again

A few years ago Orange gave up on its bank after spending roughly a billion euros building it. Now telcos are trying again, this time they are being handed licences.

James Smith

Deep Dive

What Happens When Your Digital ID Is Switched Off?

Sep 20, 2026

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5 min read

What Happens When Your Digital ID Is Switched Off?

Digital identity keeps getting better at proving who you are. The harder questions start when it says no, and when a business needs to prove who is allowed to act.

James Smith

Deep Dive

Blockchain Makes FX Cheaper. It Doesn't Make Liquidity Free.

Jul 27, 2026

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5 min read

Blockchain Makes FX Cheaper. It Doesn't Make Liquidity Free.

A €10 million payment shows why the ledger is the cheap part, and why local cash, compliance and payout infrastructure still set the price.

James Smith

Deep Dive

Robinhood's Real Competitor Is DTCC, Not Base

Jul 17, 2026

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6 min read

Robinhood's Real Competitor Is DTCC, Not Base

Everyone is comparing Robinhood Chain with Base. They may be looking at the wrong company.

James Smith

Deep Dive

Swift Never Moved Money. Its New Blockchain Doesn't Either.

Jul 12, 2026

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7 min read

Swift Never Moved Money. Its New Blockchain Doesn't Either.

Seventeen banks are preparing to move commitments on to Swift's blockchain.

James Smith

Deep Dive

Follow the Float: Who Earns the Yield on OUSD

Jul 8, 2026

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8 min read

Follow the Float: Who Earns the Yield on OUSD

One hundred dollars, followed through OUSD and what moving the float from the issuer to 140 distributors actually does.

James Smith

Deep Dive

May 31, 2026

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11 min read

AI Agents: Paid Web for Machines

Agent payments are not about cheaper transactions.

James Smith

Deep Dive

May 24, 2026

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13 min read

Stablecoins, Productized

Stablecoins is a layer cake

James Smith

Library

Past Editions - Weekly and Deep Dive Releases

Your Stablecoin Earns Interest. Who's Pocketing It?

Telcos Are Trying to Become Banks Again

What Happens When Your Digital ID Is Switched Off?

Blockchain Makes FX Cheaper. It Doesn't Make Liquidity Free.

Robinhood's Real Competitor Is DTCC, Not Base

Swift Never Moved Money. Its New Blockchain Doesn't Either.

Follow the Float: Who Earns the Yield on OUSD

AI Agents: Paid Web for Machines

Stablecoins, Productized

Enterprise Onchain