Cosmos

▚▚ SOVEREIGN DAY — BUENOS AIRES ▚▚ Join us in Buenos Aires for a day of top-tier speakers, great cuisine, and networking on the Río de la Plata's riverbank ☀️ Featuring performances by America's Got Talent All-Stars Malevo. 18 NOV / Malloy’s Costanera / 10 AM - 7 PM

▚▚ SOVEREIGN DAY — BUENOS AIRES ▚▚ Live event featuring electrifying malambo dance by Malevo and spectacular tango by Marcos Ayala Tango Company. Speakers from McKinsey, Ondo Finance, TOKI Finance, Lombard Finance, and more. RSVP now! 18 NOV / Malloy’s Costanera / 9 AM - 7 PM

Banks are launching stablecoins, tokenized deposits and CBDC pilots, mostly on platforms that can’t talk to each other. Each project makes sense on its own. Treasury wants 24/7 settlement. Payments wants programmable cash. Innovation teams want to test new infrastructure. The problem comes later, when a tokenized deposit needs to settle against a bond issued on another network. The bank can end up with three new systems that require the same reconciliation work it was trying to get away from. I think there’s another question that matters just as much: what will each system need to connect to in five years, and who decides? Connectivity is still something many digital asset strategies leave until later. It should be one of the first decisions. Why we call it the missing layer: https://cosmos.bz/4jANUNs

The biggest risk to tokenization is interoperability Almost every bank, securities depository, payment network and central bank is building its own ledger and issuance solution. Each of them would like to be the platform that everyone else issues on. This creates a huge challenge for CTOs and Heads of Digital Asset Technology at banks because picking an issuance solution is a 1 way door. You don't know know where the market is headed but if you choose wrong, you will need to spend a huge amount of time and money to migrate liquidity, wallets/client accounts, compliance policies, and tons of historical data. The answer is to issue everywhere, but this depends on picking the right interoperability solution. Four questions I’d ask before committing to an interoperability provider: 1/ Has the solution suffered any major exploits? 2/ Which blockchains and enterprise DLT frameworks (Besu, ZkSync, Cosmos, etc...) can we connect to directly without relying on an oracle or another vendor in the middle? 3/ How does or could the token affect fees, functionality, and/or security? 4/ How does the solution prevent vendor lock-in and keep migration costs low? Read more: https://cosmos.bz/4879RMR

I'm headed to Jack Henry Connect 2026 next week. Cosmos is at Booth 1508. Tokenized deposits are coming to JH community banks and credit unions! The real question is whether those tokenized deposits can move seamlessly between any institution. An island recreates the fragmentation banks already have. A cross-chain communication layer is what makes tokenization worth doing. That's why we're providing an end-to-end solution within the Jack Henry Core: a permissioned ledger and tokenization engine for regulated institutions, connected through IBC, the open interoperability standard. Value moves between institutions without a middleman. If you're a Jack Henry bank, credit union, or partner thinking through your tokenized deposit strategy, come by Booth 1508. We can have you fully operational before the end of the year!

If you own the digital asset strategy at your bank, let’s talk. 🏦 I’ll be at Jack Henry Connect in Kansas City next week with Cosmos. Come find me at Booth 1508. Wherever you are on the journey, whether that’s strategizing, experimenting, or doubling down, the Cosmos Tokenization Suite meets you there: * Launch tokenized deposits that sync with your existing Jack Henry core. No rip-and-replace. * Give customers new digital money capabilities while deposits stay on your ledger, so you keep the relationship. * Go from pilot to production on infrastructure already securing billions in value. We’ll have real use cases, live capabilities, and educational materials to share. DM me to grab time. See you in KC!