$TRUBILL is live: institutional U.S. Treasury yield on @Solana. Permissioned access for approved institutions, T+0 redemptions and onchain utility, backed by the AAA-rated ULTRA Fund. Built on institutional infrastructure: - @Komainu (regulated custody) - Porto by @Anchorage (institutional participation in DeFi) - @utila_io (MPC wallet infrastructure) - @GSR_io (market making and liquidity provision) - @HalbornSecurity (smart contract audits)

This Week in Onchain Yield Tokenised funds, consensus, stablecoin rules and custody all took concrete steps. The five stories we are watching ↓ 1️⃣ JPMorgan puts its tokenised money market funds on Solana MONY and JLTXX are open to qualified US investors through Morgan Money, with tokens sent to investors' addresses. prnewswire.com/news-releases… 2️⃣ Solana's Alpenglow consensus goes live on mainnet Anza's protocol retires TowerBFT and, Anza says, cuts finality from about 12.8 seconds to roughly 150 milliseconds. theblock.co/news/ecosystems/… 3️⃣ The OCC finalises the first GENIUS Act rule Reserve, redemption and risk management standards for payment stablecoin issuers, effective 18 January 2027. occ.gov/news-issuances/news-… 4️⃣ Malaysia's central bank launches a tokenised bond and sukuk depository SSDS+ holds the securities records while the payment system settles around the clock in central bank money. bnm.gov.my/-/ssdsplus 5️⃣ Standard Chartered agrees to acquire Zodia Custody outright Covers all of Zodia Custody and would bring custody into Securities Services, subject to regulatory approval. theblock.co/news/business/20…

Buying a tokenised Treasury bill is easy. Using one is not. Five questions decide whether an institution can actually use one ↓ 1️⃣ What the holder owns 2️⃣ How yield accrues 3️⃣ The redemption path 4️⃣ Can it move 5️⃣ Is it collateral truyields.com/insights/what-…

Alpenglow is live. With target finality of around 150ms, Solana has taken a major step forward. But institutional settlement still depends on custody workflows, redemption processes and reconciliation. A stronger base, not the whole stack.

This Week in Onchain Yield Tokenised assets are starting to do institutional work. Settlement, collateral, custody and supervision all moved in the same week. The five stories we are watching ↓ 1️⃣ Solana sets 21 October for its Alpenglow upgrade The Foundation's timetable puts the consensus switch at epoch 1064, targeting roughly 150 millisecond finality. solana.com/upgrades/alpenglo… 2️⃣ BNY and Citadel Securities put a tokenised US Treasury through a triparty repo Recorded on BNY's private ledger, settled within minutes, then pledged as overnight repo collateral. bny.com/corporate/global/en/… 3️⃣ Standard Chartered adds institutional RLUSD custody in Dubai Through its DFSA-regulated branch, with RLUSD intended as mirrored collateral for LMAX products. sc.com/en/press-release/stan… 4️⃣ The EBA classifies USDC as the EU's first significant e-money token Supervision of reserves, liquidity and redemption plans passes from the ACPR to the EBA from 12 November. theblock.co/news/regulation/… 5️⃣ The 37-bank Qivalis consortium is authorised as an e-money institution DNB authorisation clears a euro e-money token under MiCA once the white paper and remaining requirements are met. thepaypers.com/fintech/news/…

Evaluating tokenised treasuries? Our Institutional Tokenised Treasury Checklist gives you: ✅ 8 evaluation areas ✅ Red flags to watch for ✅ A structured scoring framework A practical resource for institutional due diligence. Get the checklist: truyields.com/institutional-…

Solana's Alpenglow upgrade is set for 21 October, targeting about 150ms finality, network conditions permitting. Faster finality strengthens one part of the stack. Finality is not settlement: custody, liquidity and redemption design still decide whether a product can be used.

This Week in Onchain Yield Institutional onchain finance is moving beyond experimentation. Settlement, tokenised assets, custody and regulation all advanced in the same week. The five stories we are watching ↓ 1️⃣ Solana Foundation releases atomic settlement infrastructure for institutions Open-source program that settles asset and cash legs in one transaction, with design partners invited ahead of production. solana.com/news/solana-found… 2️⃣ Securitize brings tokenised US equities to Solana Backed one for one by shares held through its regulated brokerage, settled in USDC. theblock.co/news/markets/202… 3️⃣ BNY expands institutional digital asset custody into the EU Offered under MiCA after its European entity joined ESMA's register in July. bny.com/corporate/global/en/… 4️⃣ The UK appoints lead managers for its first digital gilt The six banks will underwrite and distribute the pilot, expected by the first quarter of 2027. gov.uk/government/news/uk-ta… 5️⃣ ESMA tightens supervisory expectations for stablecoin services Supervisory guidance calls for remaining non-compliant exposures to be addressed within three months. esma.europa.eu/press-news/es…

Curated vaults now have an external risk vocabulary. S&P Global Ratings' new Vault Risk Assessment scores six factors: credit quality, liquidity, curator, blockchain, protocol and governance risk. It doesn't assess yield. It assesses the risk behind it. press.spglobal.com/2026-10-0…

Our CEO and Co-Founder @mattmolloy4 is in Singapore this week. Connect with him to talk institutional onchain yield.

This Week in Onchain Yield US custody rules, a UK licensing window, a bank's test lab and new ledger records and rules in Brazil and Korea shaped the week. The five stories we are watching ↓ 1️⃣ The SEC proposes crypto custody rules for advisers and funds State trust companies could act as custodians, with comment open for 60 days after Federal Register publication. sec.gov/newsroom/press-relea… 2️⃣ The FCA opens applications for the UK crypto regime Firms should apply by 28 February 2027, ahead of the regime starting on 25 October 2027. fca.org.uk/news/press-releas… 3️⃣ Morgan Stanley sets up a Digital Asset Lab Staff can test tokenised deposits, money market funds and DeFi vaults away from core systems, Bloomberg reported. crypto.news/morgan-stanley-l… 4️⃣ Brazil's CSD BR mirrors BTG Pactual fund records on the XRP Ledger Approved institutions can check them in real time, while CSD BR's own database remains the official record. coindesk.com/tech/2026/09/30… 5️⃣ Korea's FSC proposes operating rules for tokenised securities Comment runs to 11 November, ahead of the regime's start on 4 February 2027. fsc.go.kr/eng/pr010101/87834

Our CEO & Co-Founder @mattmolloy4 will be in Singapore next week: • @Yield_Summit 6 Oct • @token2049 7 - 8 Oct In town and working on institutional onchain yield, tokenised RWAs or building on Solana? Connect with Matt to discuss.

This Week in Onchain Yield Central bank and commercial bank money moved onto shared ledgers in Europe and the UK, Solana's tokenised assets hit a new high, and US regulators set out how existing rules apply. The five stories we are watching ↓ 1️⃣ The Eurosystem switches on Pontes for settling tokenised assets in central bank money Pontes went live on 21 September with thirteen market participants and four DLT operators onboarded, and the ECB said it is preparing to put a small portion of its own funds into tokenised euro public-sector debt via Pontes. ecb.europa.eu/press/pr/date/… 2️⃣ UK banks complete their first interbank transactions in tokenised sterling deposits Lloyds, NatWest and Barclays used tokenised deposits to settle two remortgage completions under UK Finance's Great British Tokenised Deposit programme, announced on 23 September, and participating banks plan to issue three digital bonds settled in tokenised deposits in the first quarter of 2027. crypto.news/barclays-lloyds-… 3️⃣ Tokenised real-world assets on Solana reach a record USD 4.6bn Tokenised real-world assets on Solana reached a record of about USD 4.6bn on 23 September according to RWA.xyz, up 11.5% in thirty days, while the number of wallets holding them nearly doubled to 685,850. app.rwa.xyz/networks/solana 4️⃣ CFTC staff set out how firms can use tokenised assets for customer funds and keep records onchain Updated staff FAQs published on 24 September address investing customer funds in tokenised versions of assets that are already permitted, where the token carries equivalent legal and economic rights, and say staff will not object to firms keeping required records onchain. cftc.gov/PressRoom/PressRele… 5️⃣ The Federal Reserve proposes reserve and capital rules for bank-issued stablecoins The Board requested comment on 24 September on two GENIUS Act proposals: one would require the stablecoin issuers it supervises to back their tokens fully with assets such as short-term Treasury bills and meet capital standards, and the other sets out how banks apply to issue. federalreserve.gov/newsevent…

This Week in Onchain Yield A US regulator opened a path for tokenised stocks the same week a market structure bill stalled in the Senate, London set its tokenisation priority, and Solana gained capacity and a distribution route. The five stories we are watching ↓ 1️⃣ The SEC lets tokenised US stocks trade onchain under a five-year exemption The Commission issued an order on 17 September granting temporary conditional relief so that venues can trade tokenised NMS stock through permissioned automated market makers without registering as exchanges, provided tokens carry rights equivalent to shares, smart contracts are auditable and trading halts mirror the listing exchange. sec.gov/newsroom/press-relea… 2️⃣ The US market structure bill stalls on a Senate procedural vote Cloture on the motion to proceed to H.R. 3633 was rejected 49 to 50 on 15 September, short of the sixty votes required, and a motion to reconsider has been filed, though no further vote is scheduled; the SEC chair had said the previous day that the agency's rulemaking would proceed with or without the statute. senate.gov/legislative/LIS/r… 3️⃣ The FCA and the Bank of England put collateral mobility at the centre of UK tokenisation The FCA published its feedback statement on the joint call for input on 14 September, reporting 123 responses that backed the proposed approach and named post-trade, particularly how collateral moves between parties, as the main opportunity, with a joint roadmap carrying target dates due later in 2026. fca.org.uk/publications/feed… 4️⃣ Solana triples its transaction size, fitting confidential transfers into one atomic call The v1 transaction format activated on mainnet on 15 September, raising the maximum transaction size from 1,232 to 4,096 bytes so that zero-knowledge proofs, large multisignature approvals and confidential transfers that previously needed several transactions can run as one. solana.com/upgrades/larger-t… 5️⃣ Allfunds opens its fund distribution network to tokenised funds on Solana Project Harmonia, the joint programme between Allfunds Blockchain and the Solana Foundation, opened its request for proposals on 16 September, inviting tokenised fund issuers onto a network of more than 3,300 asset managers and institutions with about EUR 1.9tn under administration; submissions close on 24 October. solana.com/news/project-harm…

This Week in Onchain Yield The UK set dates against its wholesale tokenisation plans, and institutions moved securities and bank money onchain in three other markets. The five stories we are watching ↓ 1️⃣ The UK sets out an autumn delivery sequence for tokenised markets Speaking at UK Finance on 8 September, the Economic Secretary to the Treasury said sixteen firms are now in the Digital Securities Sandbox with the first recently approved for live activity, and reconfirmed the Digital Gilt Instrument for issuance in the first quarter of 2027. gov.uk/government/speeches/e… 2️⃣ Nasdaq puts USD 100m into Kraken's parent to build tokenised equities Nasdaq Ventures agreed on 10 September to invest in Payward, which will adopt Nasdaq's market surveillance technology across its trading venues, and the two said they are advancing Nasdaq Equity Tokens with a launch expected in the second quarter of 2027. theblock.co/news/deals/2026-… 3️⃣ U.S. Bank pilots its own dollar token on a public network The bank said on 9 September it had completed a live payment in USBDC between its North American and European entities on Stellar, testing minting, redemption, freezing and clawback, and named liquidity management, collateral mobility and cross-border treasury operations as the applications it is exploring next. ir.usbank.com/news-events/ne… 4️⃣ DBS and Citi settle a weekend cross-border dollar payment in tokenised deposits The two banks said on 7 September that a US dollar payment between DBS in Singapore and Citi in New York had settled in minutes on Saturday 5 September over Swift's Digital Ledger, the second live transaction on the ledger since it opened in July. dbs.com/newsroom/DBS_and_Cit… 5️⃣ India's first tokenised corporate bond settles in central bank money REC Limited issued a INR 5bn bond, roughly USD 59m, under SEBI's regulatory sandbox on 7 September, settled through atomic delivery versus payment in the Reserve Bank of India's wholesale central bank digital currency, with pay-in, allotment and listing completed the same day. ledgerinsights.com/state-own…