tZERO Newsletter 10.16.2025
Private equity and private fixed income are projected to be the first asset classes to undergo tokenization. This reflects a strategic focus among institutional investors on unlocking liquidity and efficiency in traditionally illiquid markets. By 2030, a majority expect 10–24% of institutional investments to be executed through tokenized instruments.
tZERO in the News
What can we build on massively scalable blockchains?
A financial system where tokenized stocks, bonds, and even commodities can be transferred directly or via on-chain smart contracts would be revolutionary. It would leave immutable records of transfers and provide clear, undisputable evidence of what happened, when, and which addresses were involved should disputes arise around custody and ownership.
Why bitcoin hasn’t replaced gold as a safe haven
Bitcoin has often been dubbed “digital gold.” But recent crashes and the high volatility of the world’s largest cryptocurrency highlight the differences between the digital asset and the precious metal, which has kept rallying and attracting investors even during market selloffs. Ramzan Karmali explains why bitcoin doesn’t have the characteristics of a safe haven, unlike bullion.
CFTC Acting Chairman Pham Outlines A Technology‑Neutral Approach To Digital Assets And Agency Modernization
At the Futures and Derivatives Law Report Digital Asset Leadership Summit, Commodity Futures Trading Commission (CFTC) Acting Chairman Caroline D. Pham described a measured and practical approach to digital assets and market oversight. Drawing on experience in both government and industry, Acting Chairman Pham emphasized technology‑neutral, principles‑based regulation, a recommitment to “regular order,” and a renewed focus on organizational performance to support the CFTC’s mission.
Galaxy Digital raises $460M to transform Texas Bitcoin mine into AI data center
Mike Novogratz’s Galaxy Digital has secured a $460 million private investment from one of the world’s “largest asset managers” to accelerate the transformation of its former Bitcoin mining site in Texas into an AI data center. The deal involves the purchase of 12.77 million Class A shares at $36 per share, with the proceeds earmarked for general corporate use and the expansion of its Helios campus, expected to deliver 133 megawatts of IT capacity in early 2026, the company announced Friday.
Trump’s Tariff Turmoil Adds Urgency To SWIFT’s Blockchain Push
A fresh round of U.S. tariffs has reignited fears of global economic fragmentation and may have thrust SWIFT’s quiet push into blockchain into the geopolitical spotlight. After President Donald Trump announced sweeping 100% tariffs on all Chinese imports, the vulnerability of the systems that move money across borders has come under renewed scrutiny. For SWIFT, the 50-year-old network that underpins global payments, the new tariff turmoil adds urgency to a blockchain effort designed to make it more resilient and politically neutral.
UBS Among 10 Banks Exploring G7-Backed Stablecoin
UBS is among ten major banks exploring the issuance of a stablecoin, highlighting traditional finance’s growing interest in digital assets. The consortium also includes Bank of America, Deutsche Bank, Goldman Sachs, Citi, MUFG, Barclays, TD Bank, Santander and BNP Paribas. The banks said they will work together to investigate creating blockchain-based assets pegged to G7 currencies, Reuters reported.
Tokenization transforms how assets are created, traded, and accessed, but scaling it for real-world adoption still faces technical and regulatory challenges. In an interview with CCN, Rob Holmes, Web3 and growth strategist, shared his views on what is needed to make tokenization viable at scale, from the economics of high-throughput networks like Hedera to the importance of regulatory clarity and enterprise trust.
S&P Global today announced a collaboration between S&P Global Ratings, the world’s leading provider of credit ratings, benchmarks and analytics, and Chainlink, the industry-standard oracle platform bringing the capital markets on-chain, to deliver S&P Global Ratings’ Stablecoin Stability Assessments (SSAs) on-chain via DataLink—an institutional-grade data publishing service powered by the Chainlink data standard.