Robbie Klages

founder @therollupco

[Robbie Klages @robbieklages]

EXCLUSIVE: Sergey Nazarov On The Tokenization Supercycle (And Whats Coming Next)

I hosted the first sit down interview with Chainlink’s Co-founder Sergey Nazarov at Sibos 2026.

@SergeyNazarov @chainlink @therollupco

00:00 Intro
01:55 Chainlink's Best Sibos Booth Ever
03:49 Chainlink and Swift Ledger
05:43 More Chains Means More Chainlink Value
07:44 DTCC Deeply Integrates Chainlink Data Feeds
09:56 Chainlink Solves The Digital Twin Problem
14:25 Tokenization Is Not About Tokens Themselves
17:44 Laws Will Change Then All Settlement Goes Onchain
19:38 Fragmentation Is Actually Chainlink's Tailwind
21:39 Chainlink Solves Each Problem As It Appears
23:34 Smart Contracts Defined By Sergey Nazarov

[Robbie Klages @robbieklages]

Singapore day 3 and the vibes are still immaculate.

Sleep schedule still cooked.

[Robbie Klages @robbieklages]

Singapore day 3.

Today we're covering Quantum & Privacy Day with @QuantusNetwork and @NEARProtocol.

See you on the floor 🫡

[Quantus @QuantusNetwork]

.@therollupco is a media partner of Quantum & Privacy Day.

Hosted by @andyyy and @robbieklages, The Rollup has recorded more than 1,000 podcast episodes exploring crypto and finance.

October 8 | Tower Club, Singapore

Apply to attend:
https://t.co/CigUDbZeWO

[Robbie Klages @robbieklages]

Vlad has been working with Chairman Selig and the CFTC, so I asked him about the work they're doing together.

He says they're spending a lot of time on onchain perps, working through how things like auto-deleveraging map to the CFTC's core principles.

"But for us, the huge game changer will be on chain perps."

He says a couple of years ago, it would have been hard to imagine a US regulator with a deep understanding of onchain finance.

"And we're almost there."

@Lighter_xyz @vnovakovski

[Robbie Klages @robbieklages]

At Sibos, I talked to J.P. Morgan, Mastercard, Citi and a bunch of other banks about their stablecoin strategy.

Now I'm having the same conversation at TOKEN2049.

Some say banks are embracing stablecoins. Others say stablecoins are a capital flight risk.

The reality is that banks have a mandate to get to 24/7 markets. Everything else is downstream of that.

You can't be 24/7 without tokenization onchain.

[Robbie Klages @robbieklages]

@suppvalen @andyyy Thanks for noticing haha 😆

[Robbie Klages @robbieklages]

One of the largest asset managers in the world thinks tokenization is the biggest revolution in finance since the spreadsheet.

Franklin Templeton is building the liquidity layer first: 24/7 trading, with positions levered and unwound over the weekend, then come the applications.

"This is another revolution but we are just at the beginning of the journey."

@FTDA_US

[Robbie Klages @robbieklages]

Vitalik said at the OKX event that in the next couple of years, a bot might be your primary counterparty.

A couple of years after that, there might be no applications at all. Just bots streaming quotes to each other.

Institutions want a federally regulated stablecoin. Bots are going to want something else.

But every stablecoin is going to have to answer the same question.. why would a bot pick yours?

[OKX @okx]

AI could become the new user interface for blockchains, changing how we interact with money.

At OKX Now, @VitalikButerin explores a future beyond apps: bots create offers onchain, while your bot evaluates and approves what fits your needs.

[Robbie Klages @robbieklages]

Tokenized stocks are going from institutions only to anyone with an account.

@Arush says @AlpacaHQ is introducing a facilitating AP, a new way for retail to mint and redeem tokenized equities straight from the underlying shares.

Binance users are already doing it.

[MR SHIFT 🦁 @KevinWSHPod]

Assembling a near:native Team

[Robbie Klages @robbieklages]

TOKEN2049 DAY 2.

Grayscale and Fidelity are the top sponsors at Digital Asset Summit Asia.

That tells you everything about where we are.

We're in an institutional bull market fueled by the tokenization supercycle.

@Grayscale @therollupco @blockworksDAS

[Robbie Klages @robbieklages]

THE BULL MARKET IS HERE.

And somebody in Singapore is walking away with $2,049

[Andy @andyyy]

$2,049 TOKEN2049 GIVEAWAY.

As a celebration to the bull market being firmly started, we are giving away $2,049 to one lucky winner in any token of your choice.

Make sure to catch us around Singapore for a ticket to enter...only a few hundred of them 👀

@token2049 @therollupco

[Robbie Klages @robbieklages]

I asked the co-founder of @withAUSD what makes a stablecoin good for bots, and it comes down to who's cheapest.

Drake says "you're going to see stuff pushed away from marketing, user experience, everything else towards economics."

"Bots don't get tired. They go all the time. And so they're going to just find the place that's actually the best."

"It's going to crush quite a few businesses."

@drakeevans

[Robbie Klages @robbieklages]

Two days into TOKEN2049.

Banks want 24/7 markets. Funds want vaults they can model. AI agents want stablecoins.

Everyone is building toward the same thing.

BE MORE BULLISH.

[Robbie Klages @robbieklages]

We've solved the asset layer but we haven't solved the protocol layer.

Institutional funds aren't going into Bitcoin.. They're going into private credit and traditional securities, and those are tokenized now.

The ambiguity is in the smart contracts and we still need better risk modeling on how likely they are to get exploited.

[Pantera Capital @PanteraCapital]

Pantera's latest State of Tokenization report is out.

We analyzed the $332bn tokenization market across 671 assets.

Institutions entered in force this quarter. J.P. Morgan, HSBC and Fidelity launched onchain products.

BlackRock's BUIDL moved $441mn onchain in June, runs a $1bn daily redemption facility, and is now accepted as collateral.

On the consumer side, Robinhood Chain hit $888mn in weekly RWA volume in August, two months after launch.

Collateral markets matured, with private credit putting 45% of its matched value to work in DeFi.

The lack of a market-structure bill didn't stop tokenized stocks. A five-year SEC exemption lets the market keep developing under current rules.

Full report: https://t.co/KXsUwci9fD

[Franklin Templeton Digital Assets @FTDA_US]

We're keeping @sethginns busy.

Onstage at @blockworksDAS and on-air with @therollupco and Franklin Crypto's Tony Pecore, live from Singapore.

[Robbie Klages @robbieklages]

With stablecoin issuers buying the Treasuries sovereigns are dumping, I asked @Tian_wei if we're headed for one world currency.

His answer: every currency gets a stablecoin.

"There will be a lot of stablecoin issuers, and definitely one for every single currency that is out there."

"The way that they will have to defend their currency and to compete is to have a local equivalent stablecoin."

"Singapore is ahead of the curve."

[Robbie Klages @robbieklages]

Stablecoin issuers are buying US Treasuries as sovereigns cut back on theirs.

I asked Tianwei if that puts us on track for one world currency.

His answer: every currency gets a stablecoin.

"There will be a lot of stablecoin issuers, and definitely one for every single currency that is out there."

"The way that they will have to defend their currency and to compete is to have a local equivalent stablecoin."

"Singapore is ahead of the curve."

[Robbie Klages @robbieklages]

We've been trading against bots for years without thinking about it.

Vitalik thinks the next step is that they write the apps too.

Hard to argue with the direction.

[The Rollup @therollupco]

Two years. That's the timeline @robbieklages heard at @VitalikButerin's talk for apps giving way to bots.

"It's clear that AI agents are here and bots are running the world."

"Within two years, it could be the case that we no longer have applications in general."

"They will be primarily written by bots."

"Bots that are streaming orders and filling quotes, and out there finding the best price."

[Robbie Klages @robbieklages]

L2s like Blast are winding down. At the same time, demand for chains has never been higher.

Stock exchanges are announcing 24/7 trading, and institutions need markets that never close.

The demand for 24/7 markets is forcing these institutions to tokenize, go onchain, and explore the alternatives.

[Coin Bureau @coinbureau]

The US has made it clear: it is NOT going to wait for the CLARITY Act.

The Senate blocked it 49-50.

48 HOURS later, the SEC approved on-chain trading of tokenized US stocks.

Then the CFTC told Wall Street to prepare for MASS TOKENIZATION.

And this month, a $114 TRILLION Wall Street giant is set to launch its tokenization service.

Here's everything else that's happened since the vote:

1. CFTC sent its new rules for crypto trading and crypto markets to the White House

2. SEC proposed new crypto custody rules for advisers and funds

3. SEC approved the first 3x leveraged Bitcoin and Ether ETPs

4. SEC gathered NYSE, Nasdaq, Citadel Securities and Robinhood to plan 24-hour stock trading

5. Treasury is reportedly weighing a push for dollar stablecoins overseas

6. White House blamed the big banks for killing the bill

7. NYSE signed a deal to bring tokenized stocks to 44 MILLION crypto accounts

8. BlackRock, DTCC, Visa and Mastercard became validators on Circle's new Arc blockchain

9. Community banks sued to stop crypto firms getting federal trust charters

10. Bitcoin ETFs pulled in $3 BILLION in 9 straight days

And what's coming next:

- DTCC, which holds over $114 TRILLION in assets, is set to launch its tokenization service in October

- US stocks are set to trade 23 hours a day from December 6

- CLARITY can still come back, after Sen. Tillis filed a motion to reconsider

But one thing is clear, crypto is moving forward with or without the CLARITY Act.

[Robbie Klages @robbieklages]

Curve's been one of the most resilient protocols in DeFi for years.

I asked Michael where they're spending their time now that new competitors are showing up.

He says new algorithms. "It's really inventing things, not something else."

"This is something which every protocol should do, right? So it's not a point of differentiation. It's the must."

"Efficiency is much less important today because gas on Ethereum is very low because Ethereum apparently improved."

@newmichwill @CurveFinance