
Creator of ERC-3643 aka the T-REX Protocol 🦖 CTO @trex_network Chairman @ERC3643Org CBO @TokenySolutions Head of Blockchain @ApexGlobalGroup
earth
Joined March 2017
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You may have heard about ERC-3643, the standard used by many financial institutions, banks and tradFi actors to represent RWA onchain, but what is it exactly? A thread 🧵
MuchScience.eth retweeted
ICYMI: We have revamped our website!
- A new look at the standard
- Better in-depth info on how it works
- Solutions pages on who it benefits and how
- Who is building on the standard already
- and more...
Have a look here: erc3643.org
MuchScience.eth retweeted
On the way to mainnet, so far:
- ONCHAINID v3 audited by @OpenZeppelin.
- @Chainlink CCIP as the preferred cross-network protocol.
- Confidential transfers in development with @zama.
- Apex Group committed to bringing $100B in tokenized assets to the Network by 2027.
MuchScience.eth retweeted
Zenith has joined the ERC3643 Association, bringing our experience in interoperability standards and settlement design to the work on compliant tokenization.
@ERC3643Org was originally created in 2018 as the T-REX (Token for Regulated EXchanges) protocol by Tokeny Solutions. ERC-3643 is an open-source token standard for the issuance, management and transfer of permissioned tokens. It enables issuers to enforce compliance requirements, including investor eligibility and transfer restrictions, even on public blockchains. The ERC3643 Association brings together TradFi institutions and blockchain technology providers to advance the adoption of this standard. Its founding members include: Apex Group, @ArchaxEx , @BitstampSupport, @Capgemini, @DLA_Piper, @InvescoUS, @0xPolygon Labs, @TokenySolutions, and others.
This matters because tokenizing a regulated asset is only the beginning. Once issued, these assets need to participate in financial workflows involving settlement, collateral, lending, and trading, often across different applications and environments.
That second step is what Zenith is built for. As the EVM and SVM extension for @CantonNetwork, Zenith allows Solidity applications to interact atomically with Canton-native assets and workflows. This opens a path for applications using Ethereum standards such as ERC-3643 to connect with Canton's institutional financial infrastructure while retaining their established Ethereum tooling.
We look forward to working with the Association and its members as regulated tokens move into production.
More about the ERC3643 Association and its members: erc3643.org/members
Zth.
If ECDSA breaks, every key using it is exposed at once. On most chains that also means every account, because the key is the account. That’s why the advice is to migrate everything, and that’s the part worth questioning.
Account abstraction already offers a way out. If the account is a contract and keys are only signers authorised on it, replacing a key is routine. The address, its history and everything attached to it stay put.
ERC-7913 goes a step further: an account can accept any signature scheme that has a verifier contract. P256 and RSA verifiers exist today. Neither is post-quantum, but the slot is there, and a hash-based verifier can go into it when one ships.
That turns a mass migration into a key rotation. We took this route with ONCHAINID v3 for other reasons, and it is why this debate reads a little differently from where I sit.
Two limits. A rotation is signed by the current key, so it has to happen before a scheme breaks. And none of it helps a plain wallet with nothing in front of the key, which is most of crypto today. That is where Justin's advice applies, and it is worth taking.
The timeline is unknown. Designing so a signature scheme can be replaced costs very little now.
Today I call upon the blockchain industry to calmly begin planning for "bunker mode". My personal recommendation is to set in motion a controlled mass migration of assets to fresh addresses, i.e. addresses whose pubkeys remain hidden behind a hash.
Holders, starting with large and sophisticated ones, should consider moving the bulk of their funds to addresses that have never signed a transaction. And when they do sign one, they should also move remaining funds to a new address (possibly generated from the same seed phrase).
Don't rush. While I believe there is cause for action a rushed migration would do more harm than good. Don't panic either. Moving assets to protected addresses is a simple, preventative step which does not require new cryptography or new wallets.
IMO it is now reasonable to brace for the possibility that ECDSA breaks before qday, in the worst case in months not years. By "break" I mean fast private key recovery (e.g. in one week) on available hardware (e.g. a large GPU cluster).
Recent days have been humbling for human mathematical intuition. Long-held, unquestioned hypotheses have fallen. This includes the n log(n) bound for integer multiplication and the 3SUM conjecture. In hindsight, May's unexpected disproof of the Erdős unit distance conjecture was our warning shot.
Yesterday's OpenAI drop made it clear that mathematical superintelligence is upon us. They say there are weeks where decades happen. We are about to live through weeks where centuries of mathematical progress happen. Could our magic 64-byte ECDSA signatures be too good to be true? Was it just security through obscurity all this time?
Elliptic curves feel especially vulnerable to superintelligence. Curves carry rich structure, with room for fancy tricks like Schoof, Frobenius, pairings. (By contrast, hashes are designed to minimise algebraic structure.)
Separately, as Ewin Tang can attest, an efficient quantum algorithm sometimes foreshadows an efficient classical one. We should be open to the possibility of a classical counterpart to Shor that breaks elliptic curves and RSA at once.
Also noteworthy is the striking under-representation of cryptographic breakthroughs among the 722 mathematical results OpenAI published. I've witnessed first-hand the US government censoring academic quantum cryptanalysis results. Backroom interventionism is my base case.
I urge large, sophisticated actors to lead by example. Project11's "risq list" (bitcoin-risq-list.projecteleven[.]com) is a great tracker of exposed BTC pubkeys. Binance, Bitbank, Robinhood, Bitfinex, and Tether have an opportunity to harden their cold storage. Next month I'll address institutions in London in a live Q&A (forum.ethereuminstitutional[.]org/london-2026).
Again, please do not rush. Wallets holding under 50 BTC enjoy partial cover from "Satoshi's shield", i.e. his 20K exposed addresses that hold 50 BTC each. Load-bearing signers like oracles and L2 security councils should consider rotating ECDSA pubkeys with every signed message and/or multi-signing with a hash-based schemes like SPHINCS.
Exiting bunker mode safely will require post-AI cryptography. My inclination is to go all-in on hash-based cryptography and avoid structured mathematical assumptions entirely, whether from curves, lattices, or isogenies. A single battle-tested hash (e.g. from the SHA or BLAKE families) yields plausible post-AI security.
The Ethereum roadmap on strawmap[.]org fully embraces hash-based cryptography with end-to-end formal verification as a response to the quantum threat. Those timelines must now be revisited and accelerated in light of mathematical superintelligence. I'll be pushing for maximum defensive acceleration.
MuchScience.eth retweeted
Good morning, Singapore.
Opening Bell is open. A room of institutional, RWA and settlement people, seated and talking tokenization before Token2049 kicks off.
Hosted by us with @ZenithFdn and @KaikoData. 📷
MuchScience.eth retweeted
Day one at Digital Assets Week in London.
T-REX is here for both days. Tomorrow at 11:20 Daniel Coheur, our CEO and co-founder, sits down with @chainlink, @zama and @OpenZeppelin.
Come and chat to us, we are hard to miss!
MuchScience.eth retweeted
Most tokenized assets can't move beyond where they're issued, because no other environment recognizes the holder.
ONCHAINID v3 makes identity a smart account the holder carries, recognized wherever the asset goes.
Co-developed with @TREX_network and audited by OpenZeppelin.
MuchScience.eth retweeted
We use ERC-3643 because eligibility has to travel with the asset.
A proprietary format has to be integrated venue by venue. A standard gets read by anything that already supports it.
140+ institutional members sit behind it. That is what separates a standard from a proposal.
MuchScience.eth retweeted
The SEC now says a venue has to give an issuer notice and a chance to object before a third party tokenizes its shares.
Should a company get a say in who tokenizes it?
MuchScience.eth retweeted
One ownership record. Many venues reading it.
A tokenized security can trade in more than one place at once. Every venue needs the same answer to the same question: may this person hold this, right now.
If each venue keeps its own answer, the answers drift. One says eligible, another says no, and the asset's rules end up depending on where you happen to be standing.
Read from one record and they cannot drift.
MuchScience.eth retweeted
Zenith joined DTC’s tokenization working group with the aim to mobilize ~$114T in securities with universal composability through Canton EVM.
Kaiko just extended its Series B over $110M for capital markets data provision, and they're the only team to proliferate data directly from Bloomberg and cover nearly every major CEX.
APEX Group is targeting $100B in tokenized assets on T-REX, the creators of ERC-3643, by June 2027, with a long tail of $3.4T.
You think we as an industry are stopping at $2.8T in total FDV?
Think again.
Zth.
Zenith joined DTC’s tokenization working group around ~$114T in securities. Kaiko just extended its Series B to $110M. Apex is targeting $100B in tokenized assets on T-REX.
The teams working around these shifts - Zenith, @KaikoData and @trex_network - are getting together at @token2049 for the Opening Bell. A curated breakfast for institutional leaders and builders working across tokenization, settlement and digital markets.
Request access: luma.com/ht5jyi8k
And all three teams have had a lot happening lately ↓
MuchScience.eth retweeted
Chainlink Adoption Update 🔗
Recently, there were 16 integrations of the Chainlink standard across 6 services and 7 different chains.
Users include @ADIChain_, @arc, @bottomlinepay, @inkonchain, @monad, @MovaChain, @Neo_Blockchain, @trex_network, and @veda_labs.
LINK everything.
The team at @merkl_xyz added support for ERC-7984, the confidential token standard, to their platform. As a result, users depositing confidential tokens into vaults can now claim their Merkl rewards in confidential tokens too. Position private. Reward private. @pablo_veyrat
DeFi incentives used to mean exposure: public leaderboards, visible rewards, traceable balances.
Not anymore.
Confidential incentive campaigns for confidential vaults are now live on @merkl_xyz, powered by Zama. Earn rewards without exposing your position.
Read more on our blog: zama.org/post/confidential-i…
MuchScience.eth retweeted
Another big week for tokenization.
The CLARITY Act failed in the Senate. Two days later the SEC opened a five year pathway for tokenized stocks anyway.
We keep moving. We keep building.
See you Monday.
MuchScience.eth retweeted
Compliance that travels.
T-REX x @Chainlink
CCIP moves it, ACE enforces it, Data streams prices it
ERC-3643 compliance, coming to the 60+ chins CCIP connects.
MuchScience.eth retweeted
Replying to @trex_network
T-Rex 🤝 Chainlink
The infrastructure needed to turn tokenized assets into usable financial instruments.
MuchScience.eth retweeted
Breakfast is on us.
Wednesday 7 October, 9am, Token2049 week, a short walk from Marina Bay Sands.
Co-hosted with @ZenithFdn and @KaikoData
No stage, no panels. The people building tokenized markets, in one room, before the day gets busy.
Limited seats, RSVP now: luma.com/ht5jyi8k



























