Link balances are powered by Tempo, rolling out today on @instinct

Set a budget and let your agent spend without a card

“If you don’t get 10 meetings a day, you’re not doing it right”

@dwr on why Money20/20 is the most efficient conference he’s attended.

From @stable_takes with @sytaylor

Give your agent a balance on @tempo with @instinct!

Awesome to see some early use cases of agentic payments getting started on Tempo. More to come :)

What’s cool about this launch from Instinct is that stablecoins (on Tempo via Stripe Link) power it seamlessly underneath.

Programmable money for AI agents.

Stable Takes is back with Episode 4. Join @dwr and @sytaylor for 20 minutes on the top stories in stablecoins and agentic payments.

In this episode:

• JPMorgan’s deposit tokens on Ethereum
• Money20/20 takeaways: Agentic payments and stablecoins
• What GENIUS Act rulemaking wards

The balance is powered by stablecoins on Tempo.

Link has 350+ million consumers.

Used by all the leading personal agents.

Moving more assets onchain can actually mean less integration work on the backend.

Watch @liamihorne explain how using tokenized deposits as stablecoin collateral could let issuers manage their reserves programmatically:

Watch: @stablecoing on why @eldoradoio partnered with @talamobile instead of building credit themselves 👇

Most of onchain credit today = lock $100 to borrow $90. Tala is unsecured: no collateral, underwritten on behavioral signals. $9B+ lent to 14 million people globally. Now people already trust.

Once live, customers can go from offer to USDT in seconds, settled onchain on @tempo.

🚨 Ep. 106 of @TokenizedPod: Microsoft & Goldman Sachs Say No to Tokenized Stocks

@cuysheffield is joined by:

👉 @nlevine19, Investment Partner, @a16z Crypto

👉 Cameron Drinkwater, Chief Product & Operations Officer, @SPDJIndices

👉 @liamihorne, Product & Engineering, @tempo

To d@tempo:s on stablecoin yield and rewards programs

🔎 CLARITY Act loophole and alternative ways to earn stablecoin yield

🏦 J.P. Morgan’s tokenized deposits and interoperability with stablecoins

🏛️ S&P's programmable tokenized index funds and automated portfolio rebalancing

🌐 Tempo Zones balancing institutional privacy and public blockchain interoperability

📃 S&P’s OpenZeppelin acquisition and the future of smart contract security

🤖 AI-driven cyberattacks and growing demand for crypto security expertise

💳 Visa & Mesh enabling embedded stablecoin wallet payments at global merchants

❗️ Major companies objecting to tokenized stock trading on OKX ICE

🤝 Tokenized equities enabling direct shareholder relationships and loyalty rewards

***

Timestamps:

00:00 Introduction

02:26 OCC GENIUS Act rules on stablecoin yield and rewards programs

05:52 CLARITY Act loophole and alternative ways to earn stablecoin yield

10:00 J.P. Morgan’s tokenized deposits and interoperability with stablecoins

14:24 S&P's programmable tokenized index funds and automated portfolio rebalancing

17:39 Tempo Zones balancing institutional privacy and public blockchain interoperability

20:00 S&P’s OpenZeppelin acquisition and the future of smart contract security

25:00 AI-driven cyberattacks and growing demand for crypto security expertise

29:01 Visa & Mesh enabling embedded stablecoin wallet payments at global merchants

35:00 Major companies objecting to tokenized stock trading on OKX ICE

45:22 Tokenized equities enabling direct shareholder relationships and loyalty rewards

***

👉𝘚𝘦𝘢𝘳𝘤𝘩 '𝘛𝘰𝘬𝘦𝘯𝘪𝘻𝘦𝘥 𝘗𝘰𝘥𝘤𝘢𝘴𝘵' 𝘖𝘯 𝘠𝘰𝘶𝘛𝘶𝘣𝘦. 𝘈𝘱𝘱𝘭𝘦, 𝘚𝘱𝘰𝘵𝘪𝘧𝘺 𝘰𝘳 𝘢𝘯𝘺 𝘗𝘰𝘥𝘤𝘢𝘴𝘵 𝘗𝘭𝘢𝘺𝘦𝘳! 👈

Tempo data is now available in Moralis

With @moralisdevs, developers can bring balances and payment history into their applications without maintaining their own blockchain indexing infrastructure.

Read more: tempo.xyz/blog/moralis-i…

Keep customer balances and payments private inside Tempo Zones.

Using stablecoins shouldn’t reveal who you pay, how much you hold, or how your business operates.

@varunsrin explains how businesses can add privacy with built-in compliance controls and access to global liquidity:

Get access to Privacy on Tempo: tempo.xyz/privacy?utm_so…

Good news for businesses building on @tempo: the OCC’s final GENIUS rule includes changes that are net positive for the future of finance and Tempo’s partners. Read more here: tempo.xyz/blog/genius-ac…

You don't need to replace your entire stack to start building with stablecoins.

Starting with one customer use case, corridor, or flow, it's easier than ever to expand to multiple product solutions when the time is right.

The Tempo team explains how to get started:

Get in touch: tempo.xyz/contact?utm_so…

Now available through Tempo Earn: @Figure’s YLDS.

Platforms can put customer balances to work between payments with a registered fixed-income security that accrues interest daily and remains transferable onchain.

@Figure Read how YLDS and Tempo Earn support card, treasury, and payment products: tempo.xyz/blog/figure-yl…

Yesterday I had the great pleasure of speaking to the Securities Services team at BNP Paribas in Madrid. Many thanks to David Calabaza for the invitation.

We covered a bit of everything regarding the tokenization of financial markets, from how it impacts money markets to how it arkets, and I wanted to share a few thoughts here.

Someone asked how I would define tokenization for a person who has no idea what a blockchain is. I didn't have a rehearsed pitch ready, so my mind went to Marc Levinson's book, The Box, and how shipping containers transformed global trade. Before containers, everything was shipped loose as breakbulk cargo, in boxes, sacks, and barrels, and every load had to be handled differently: loading a ship took days, fixed infrastructure costs were sky-high, and shrinkage and theft were constant, even if the system seemed efficient at the time.

Once the container was standardized, you could suddenly move goods from truck to ship to train without ever touching what was inside. That is essentially what tokenization does for assets: instead of every FMI, bond, equity, or form of money operating in its own operational and intermediation silo, you put it inside a standard digital "container."

Now, the usual pushback is completely logical: "Sure, but a tokenized financial asset still carries all its underlying legal complexity, remains subject to local regulations, and the underlying asset is still what actually matters." I completely agree. But this reminds me of the corner fittings on shipping containers: standardization didn't eliminate customs at every port or make the cargo inside stop mattering. Previously, every shipping line had its own rigging system, meaning a crane at one port couldn't lift another company's box. Once corner fittings were standardized and the patents were released, any crane could handle any container.

At the time, everyone said it was impossible, that it required too much investment, that it would clash with regulations, and that there would never be consensus. We cannot evaluate a structural shift by assuming current variables are static, or we will fall into severe myopia. Systems naturally reorganize themselves; initial friction shapes the path, but as soon as incentives shift, the regulator ultimately adapts to the new environment.

We also spoke at length about tokenized money. I shared the same view I always stand by: all formats will coexist, and each will serve its own purpose. From tokenized central bank reserves acting as the anchor of the system (wCBDC), to tokenized deposits (TD) preserving the banking relationship and credit creation, all the way to stablecoins opening up corridors with greater agility, including natively on-chain settlement systems like Tempo or Ethereum to tap into their native global programmability and composability.

Today they are viewed as competitors because, let's be honest, they are, especially when one has a multi-year operational head start over the other. The problem is that many banks are jumping into stablecoin and tokenized deposit initiatives without a clear understanding of the "why." It is the equivalent of buying AI licenses for a company without changing its culture or its processes.

With tokenized deposits in particular, you need a deep modernization of the core banking stack to operate in real time; in fact, once you reach that point, you realize that the token itself is the most irrelevant part of the entire internal transformation you had to execute.

If you allow me to lean into a crypto analogy and oversimplify what I have in my head, the real magic of all this lies in a multinational treasurer's ability to move capital without friction: the corporate treasury starts functioning like a vault, the CFO acts as its curator, and the flow across Tokenized Deposits <> Stablecoins <> MMFs moves atomically without cut-offs, without liquidity trapped in precautionary buffers, and without today's heavy operational overhead.

Finally, we touched on my favorite topic: liquidity and the false myth that T+0 is free. Today's financial system runs on a constant recycling of liquidity (netting), and that is possible precisely because settlement is not instantaneous and because we have indirect legal ownership that facilitates the fungibility of instruments.

To me, the efficiency of the system lives in a trilemma across three variables: settlement speed, the collateral required to cover counterparty risk (margins at the intermediary), and the liquidity needed to fund that settlement.

If you accelerate settlement toward real time, you reduce counterparty risk and margin at the intermediary, but you drastically increase the need for pre-funding and gross liquidity. If you slow down the settlement cycle, you save a massive amount of liquidity thanks to netting, but you increase counterparty risk exposure throughout the cycle.

The market lives in that constant balancing act. If the destination is T+0, market structure will reorganize itself to solve for that liquidity cost, just as central banks continue evolving their facilities to maintain the stability of the system.

Once again, thank you to the BNP Paribas team for the debate and the opportunity.

Businesses aren't just looking at payments when it comes to stablecoins. They're interested in earning on balances and accessing credit.

Credit Lead at Tempo, @anirudhnarayan, shares what he’s hearing from enterprises and why credit should move at the speed of payments: