The Innovation Ledger

The Innovation Ledger is currently free to all during its first year.

Past Issues

November 26, 2025

  • Industry Pulse
  • Electronic trading falls in Treasury market
  • QNB issues $500M digital bond on HSBC Orion platform
  • Digital surety startup AxiTrust raises $2.6M in seed funding
  • Market Transformation
  • DeFi’s trillion-dollar question: Synthetic assets or tokenized securities?
  • Citi: Tokenized deposits could surpass stablecoins by 2030
  • U.S. Bancorp piloting stablecoin on Stellar blockchain
  • Innovation Spotlight
  • N.Y. Fed: Permissionless blockchains can drive payment evolution
  • Citi, Swift trial shows interoperability of fiat, digital currencies
  • Policy Update
  • FSB urges monitoring of stablecoins
  • Basel Committee to revisit digital assets amid stablecoin growth
  • Senators press CFTC nominee Selig on digital asset plans
  • IMF framework guides central banks on digital currency
  • Global View
  • Lagarde: EU must embrace AI to avoid missing out
Read Issue

November 19, 2025

  • Industry Pulse
  • ICMA issues DLT settlement, custody guides under Project Guardian
  • Market Transformation
  • Trading desks invest in tech to support muni bond surge
  • Innovation Spotlight
  • Societe Generale issues digital bond using Broadridge tech
  • Breakthroughs
  • Hong Kong issues record $1.3B digital green bond
  • Policy Update
  • SEC’s Atkins outlines “token taxonomy” for digital assets
  • CFTC’s Pham hails tokenized markets as future of trading
  • SEC considers adjustments to Treasury clearing rule
  • Global View
  • Japan, Hong Kong, Singapore lead tokenized finance
Read Issue

November 12, 2025

  • Industry Pulse
  • Survey: US firms lead in Treasury clearing readiness
  • Broadridge distributed ledger repo activity rises 13% Oct.
  • Market Transformation
  • Tradeweb, Chainlink bring US Treasury prices on-chain
  • Innovation Spotlight
  • Apollo exec sees blockchain as “open architecture”
  • Traditional banks process tokenized assets much faster than crypto platforms
  • Breakthroughs
  • HSBC, IBM show quantum computing’s bond trading potential
  • Policy Update
  • IOSCO cautions on investor risks from tokenization
  • Global View
  • Asia’s tokenized bonds: Progress, hurdles and potential
  • Hong Kong launches tokenization pilot amid digital asset push
Read Issue

November 5, 2025

  • Industry Pulse
  • Report: Buy-side firms cautious as tokenization matures
  • Clearstream launches tokenized securities platform on DLT
  • Market Transformation
  • Commentary: Algos, voice trading work side-by-side in bond markets
  • Fixed-income market undergoes transformation with quant strategies
  • Tokenized RWA market could hit $2T by 2028
  • Innovation Spotlight
  • FMSB highlights holistic innovation in bond market
  • AI infrastructure boom reshapes bond market landscape
  • Breakthroughs
  • JPMorgan tokenizes private equity fund
  • Policy Update
  • SEC’s Peirce: Tokenization, privacy a priority
  • BIS official highlights tokenization uptake in bond issuance
Read Issue