Paul Dubois

Rebuilding the regulated economy as software primitives | Convergence of DeFi & TradFi | Thesis-driven investor | Fintech • Proptech • Wealthtech | NFA - DYOR

[On Chain Notes @On_Chain_Notes]

🚨 Over the past few days, three articles have been co-written with @Pauldubois !

We can't guarantee STBL's success, but we'll give you the keys to understanding why @stbl_official has the potential to be one of the big winners of the next cycle.

In some cases, price is just noise, and the real added value is what's being built behind the scenes. This is where $STBL stands today.

So, forget about the price and immerse yourself in reading about the future of finance

1⃣ - The balance Sheet Thesis or why STBL is the AWS of stablecoins https://t.co/4JeIlGQeue

2⃣ - The Wooden Dollar and why STBL is quietly rebuilding how institutional yield moves https://t.co/fQqd1kvXQx

3⃣ - When hundreds of companies run on STBL
https://t.co/WkJlr1Nkjz

@avtarsehra @Reeve_Collins @bundeep @rjvollono @BrianneFrey @Mrbullemmy @Trail2Crypto @gemhunter2_0 @CryptoGems100YT

[Paul Dubois @pauldubois]

@stbl_official Great to see all the progress @avtarsehra

[On Chain Notes @On_Chain_Notes]

https://t.co/Fl9cwenLI8

[Paul Dubois @pauldubois]

Three layers used to exist separately:

• What the yield is (accounting)
• What it's authorized to do (treasury policy)
• Where it actually goes (settlement)

USST and YLD collapse them into programmable primitives.

[On Chain Notes @On_Chain_Notes]

https://t.co/xHNwravgt8

[Paul Dubois @pauldubois]

Run a consortium when you have shared interests or network effects.

Collaborative innovation runs on different rules than competitive innovation.

But governance and coordination risk are always the tax you pay.

Choose wisely before you start one.

[Vlad Tenev @vladtenev]

The future of crypto is in real-world assets.

[On Chain Notes @On_Chain_Notes]

https://t.co/UwAYlXNJAG

[Paul Dubois @pauldubois]

.@HyperliquidX goes further than @Securitize. Not just custody and settlement onchain, but the exchange itself is: full orderbook, sub-second finality. ~98% of fees automatically buy back tokens. The company doesn’t touch the spread, holders do. But regulators aren’t happy (yet).

[Paul Dubois @pauldubois]

.@Securitize going public is a milestone, but the change in ownership structure deserves a look: compliance stays fully centralized: transfer agent, broker-dealer, ATS, KYC. Only custody and settlement moved onchain. Regulators are happy, holders get 24/7 self-custody.

[Paul Dubois @pauldubois]

@e_goldstein_84 @RobinhoodApp @BlackRock @Securitize Ondo fits in category 2 at the moment. But with the new IVV and Micron custodial tokenized securities, arguably we now also have category 2B depending on how granular you want to go.

[Paul Dubois @pauldubois]

Tokenization is diverging. Three live models:

1️⃣ Synthetic (price-tracking, no shareholder rights) like @RobinhoodApp
2️⃣ Custodian/spv claims (claim on asset held by custodian) like BUIDL by @BlackRock
3️⃣ Issuer-native (token is the share) like @Securitize

Which one survives?

[Paul Dubois @pauldubois]

.@Securitize led by example. Went public on NYSE as $SECZ, then tokenized its own shares. $295M live on @Solana and @Avalanche >> same stock, same rights, fully compliant. Today tokenized RWAs are ~$33B and projected to hit ~$100B by end of 2026.

[Paul Dubois @pauldubois]

@mariekeflament @stripe @tempo @Stablecoin @privy @Nicolas_Colin @CurrenPower Nice. Looking forward to your podcast 👍

[Paul Dubois @pauldubois]

Looking forward to discussing how tokenized assets and AI are changing financial markets.