“Never, ever, think about something else when you should be thinking about the power of incentives.” — Charlie Munger

The future of Internet Capital Markets starts here. R3 is proud to back @Solana_SRI on their comprehensive institutional guide to @Solana Proud to back this work as a Founding Member.

Bringing institutions and flows to a public network accrues way more value for every participant long term. And is also much easier short term. Eventually the coordination costs are too high to make multiple semi synchronized private networks align. Believe me, I tried! Better to bring it to @solana and corda.xyz

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The first wave of RWAs focused on one thing: Tokenization. → Take a real-world asset. → Put it on a blockchain. → Wrap it in a token. But tokenization alone doesn’t create demand. Crypto markets don’t just want assets. They want assets that fit into on-chain financial systems. That means: • Liquidity • Transparent yield • Composability • Programmatic settlement Traditional asset structures weren’t built for this. That’s why many RWAs struggle to gain traction in DeFi. It’s not the asset that’s the problem. It’s the structure around the asset. In traditional finance, the most successful products aren’t raw assets. They’re structured financial products. - Asset pools - Tranching - Yield engineering - Liquidity design This is how entire markets are built. Crypto is rediscovering the same principle. The next generation of RWAs won’t just be tokenized assets. They’ll be structured yield products built for on-chain capital markets. That means new infrastructure. Systems that can: • pool assets • structure yield • distribute risk • integrate with DeFi Do you know where things get interesting? There are projects already building this. Projects like @inside_r3 are exploring this model through high-quality yield vaults. Instead of simply tokenizing assets, Corda shifts focus to how these assets are structured and packaged to meet the demands of on-chain investors. Offering diversification from pure crypto assets without sacrificing returns. That shift is very crucial. It turns RWAs from static assets into financial building blocks inside crypto markets. This is where real-world assets actually become part of DeFi. • instant liquidity • composable • integrated with DeFi The first phase of RWAs was tokenization. The next phase is structure. And the infrastructure enabling that shift is Corda. @inside_r3

Great overview on the RWA bull case. And that priority to make it come true is 1. liquidity 2. legal wrapper as product design and 3. distribution 🤝

one of the hardest working teams in the Solana eco 👀

Great piece on Vaults in Bloomberg today by @MuyaoShen — Bitwise, Morpho, Gauntlet, and Steakhouse all weighed in. “People want yield,” said Jonathan Man, portfolio manager and head of multi-strategy solutions at Bitwise, which just launched their first vault. “They want their assets to be productive. And the vault is just another way to deliver that.” Finance is moving onchain.

Great convo w Coindesk about our mission to bring liquidity and yield to onchain markets. sign up at corda.xyz to stay up to date 🚀 coindesk.com/business/2026/0… via @coindesk

Books 2-4 below are essential reads. Ed thorp is the man. I’d also throw in Against the Gods: the remarkable story or risk. Way more exciting of a read than the title implies!

…and it’s still so early 📈

Jeff’s writings have helped change my mind on some things I didn’t expect to change my mind on (which is important to do!). Like tokenomics. And now DATs. Worth a read

Love the thesis laid out by Strobe Ventures. The (liquidity) crisis in tokenized RWA presents a large opportunity. Congrats @will_beeson on the raise

The only constant in crypto is change- as reflected in this year's 2025 Founder Survey Results. Distribution has unseated finding PMF as the biggest challenge! >100 founders representing $48B in mkt cap and $4.2B in funding shared their thoughts

Good to have company :)

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🙋‍♂️ noticing —> corda.xyz

Amazing event and the perfect way to cap off my Breakpoint week. Thanks @keel_fi for hosting me! Sails up on the regatta ⛵️

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