Market · Featured
Why short-duration treasuries are the gateway to RWA
Tokenized T-bill products have become the default first allocation for institutions entering real-world assets. The reasons are structural, not fashionable, and they tell us where the next phase of adoption goes.
VESTN Research·28 Mar 2026· 3 min
Structuring
Inside a private-credit token: cashflows, controls, custody
A senior secured loan token looks simple on a marketplace card. Underneath sits an operational stack of origination, servicing, waterfalls and custody that determines whether the token is an instrument or an ornament.
James O.· 3 min
Outlook
RWA in 2026: from pilots to portfolios
The experimental phase of tokenized real-world assets is ending. The next phase is duller and far more consequential: RWAs as a standing line item in institutional portfolios. Here is a five-part framework for tracking the transition.
VESTN Research· 3 min
Data
Oracle economics for tokenized real estate
Real estate is the hardest asset to put a live price on and the easiest to overpromise about. The oracle design an issuer chooses reveals more about a product's seriousness than its marketing does.
Sasha K.· 3 min
Regulation
MiCA arrives: a practical guide for issuers
Europe's Markets in Crypto-Assets regime is now the operating reality for anyone touching crypto markets in the EU. For RWA issuers the practical question is narrower than the headlines suggest: what does MiCA actually govern in your stack, and what does it leave to older law?
Ana R.· 3 min
Product
Yield UX: per-second, per-day, or per-milestone?
How a platform displays accrual is a product decision wearing a design costume. The wrong choice manufactures distrust at the exact moment a high-intent allocator is deciding whether to fund.
Devon L.· 2 min